The Russian Ministry of Finance reported it has sent letters to finance officials in Cyprus, Luxembourg, Malta, and the Netherlands regarding a proposal to increase certain withholding tax rates under the respective income tax treaties.
A recent letter to the Dutch Ministry of Finance proposes that revisions be made to the current income tax treaty in order to increase the withholding income tax rates on dividends and interest to 15%. Cyprus, Luxembourg, and Malta have already received similar letters.
The Netherlands may not be the last country to receive such a letter from the Russian Ministry of Finance.
For more information, contact KPMG’s Global Head of International Tax:
Rodney Lawrence | +1 (312) 665 5137 | email@example.com
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