The press service of the Cabinet of Ministers informs about it.
“The adjustments relate to an increase in the withholding tax on dividends and interest up to 15%,” the government said.
The protocol defines a list of exceptions, according to which “a preferential regime will be applied to income in the form of dividends and interest, setting a tax rate of 5%”.
The report says that the exemptions will apply to institutional investments and public companies, "at least 15% of the shares of which are in free float, and owning at least 15% of the capital of the company paying the specified income, during the year."
It is noted that the Ministry of Finance has been instructed to negotiate with Malta and ensure the signing of the corresponding protocol.
Earlier, Russia and Cyprus signed a protocol to amend the tax agreement between the countries.