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Oman and Russia Sign New Tax Treaty

12 June 2023

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Treaty Development

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Oman-Russia

The Russian Ministry of Finance has announced the signing of a new income tax treaty with Oman on 8 June 2023. A treaty was signed in 2001 but was never ratified. The new treaty is in line with BEPS standards and provides the following withholding tax rates: Dividends - 10% if the beneficial owner is a company that owns at least 20% of the paying company's shares; otherwise, 15% Interest - 10% Royalties - 10% The treaty will enter into force after the ratification instruments are exchanged and will apply from 1 January of the year following its entry into...