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Russia and Luxembourg: changes in the tax agreement between the countries


On November 6, the protocol on amendments to the agreement on the avoidance of double taxation between the Russian Federation and Luxembourg was signed. According to the signed protocol, the withholding tax rate on income in the form of dividends and interest increases until 15%.

The Protocol also defines a list of exceptions, according to which a reduced rate of 5% will be applied to income in the form of dividends and interest. The document provides for the establishment of a preferential rate for institutional investments, as well as for public companies that have at least 15% of their shares in free circulation and own at least 15% of the capital of the company paying the specified income during the year.

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