Russia and Malaysia signed an updated agreement to eliminate double taxation. The previous version of the agreement has been in force since the time of the USSR and is the oldest tax agreement in force. Ratification should take place before the end of 2024.
Subscribe to RB.RU on Telegram
The governments of Russia and Malaysia agreed to avoid double taxation and signed an updated agreement. This was reported by the press service of the Ministry of Finance of the Russian Federation.
The document, in particular, provides for the establishment of a tax rate on dividends of 10% with a share of capital of up to 25% for one year and 15% in other cases. The tax rate on interest and royalties is set at 10 percent, with exceptions for state-owned enterprises.
The signed agreement is an update of the current version of the treaty, which was signed in 1987 and is the oldest tax agreement in force.
In May 2024, Russia signed an agreement to avoid double taxation with Abkhazia.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
