The Russian Finance Ministry has sent letters to the finance ministries of Luxembourg and Malta regarding proposed changes to the current tax rates provided for in the double taxation treaties with those countries, according to an official announcement from the Finance Ministry’s press service. These measures have been taken in line with the President’s instruction for “dividends and interest transferred to foreign accounts” to be taxed at 15%.1Under the current versions of the tax treaties with Luxembourg and Malta:In the case of dividends, the domestic withholding tax rate (15%) may be reduced to 5% if certain conditions are met.In the...