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By Alona GAVRYLOVA - Manager - KPMG (Tax) and Philippe NEEFS – Partner – KPMG (Tax)
In March 2020, Vladimir Putin, the President of the Russian Federation, addressed the nation in order to communicate new measures to respond to the socio-economic consequences of the pandemic Covid-19 in Russia.
As part of the address, Putin instructed the government to quickly initiate negotiations with foreign jurisdictions to amend Russia’s current double tax treaties (“DTT”) to set the minimum withholding tax (“WHT”) rate on dividends and interest paid from Russia at 15%. In the case...
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