"On August 13, 2020, the competent authorities of the Russian Federation and Malta agreed on a draft protocol on amending the Convention between the Government of the Russian Federation and the Government of Malta for the avoidance of double taxation and the prevention of tax evasion with respect to taxes on income," the Russian Ministry of Finance said in a statement.
It is noted that the authorities agreed to increase the withholding tax rate on income in the form of dividends and interest to 15%, with exceptions for a limited list of institutional investments.
Earlier, the Deputy Minister of Finance of Russia Alexei Sazanov spoke about negotiations with Malta and Luxembourg to revise tax agreements.