Russia's Ministry of Finance has issued a release announcing that officials from Malta and Russia met on 13 August 2020 and agreed on a draft protocol to amend the 2013 tax treaty between the two countries. This includes an increase in the rate of withholding tax on dividend and interest income to 15%, with exceptions for a limited list of institutional investments. Under the current provisions of the Malta-Russia treaty, a 5% withholding tax rate is provided on interest and a 5% withholding tax rate is provided on dividends if the beneficial owner is a company directly holding at least...