Russia, Malta Agree to Increase Tax on Dividends, Interest (Corrected)

The tax rate on dividends and interest will now be 15% under an amended tax treaty signed Thursday by Russia and Malta.

The tax hike is effective starting Jan. 1, 2021.

• Exceptions are provided for institutional investors and public companies with at least 15% of their shares in free float—meaning owned by public investors—and holding at least 15% of the capital of the company paying the dividends during the year. Those eligible for exceptions pay a 5% tax rate rather than 15%.
• Changes won’t affect interest income paid on Eurobonds, bonded loans of Russian companies, ...