Russia has closed another loophole for transferring capital abroad
The State Duma of the Russian Federation today ratified the protocol to the Convention between Russia and Malta for the Avoidance of Double Taxation, according to which companies doing business and earning money in Russia, but registered in Malta, will pay more taxes. The protocol provides for an increase in the tax rate at the source of income, that is, Russia, from 5 to 15% in relation to dividends and interest. IN…