The amending protocol to the 1998 income and capital tax treaty between Cyprus and Russia entered into force on 15 January 2021. The protocol, signed 8 September 2020, is the second to amend the treaty and includes the following changes: Paragraph 2 of Article 10 (Dividends) is replaced, providing for a standard withholding tax rate of 15%; A new paragraph 3 is added to Article 10 (Dividends), providing for a reduced withholding tax rate of 5% if the beneficial owner of the dividends: is an insurance undertaking or a pension fund; or is a company whose shares are listed on...