AO UniCredit Bank
Summary:
The Double Taxation Treaty between Russia and Luxembourg has been confirmed in clarification letter from the Russian Ministry of Finance.
Tue, 13/05/2014
Dear Client,
The Double Taxation Treaty (DTT) between the Russia and Luxembourg came into force on 1 January 2014. The minimum withholding tax rate on dividends provided by the DTT is 5%, which could be applied, if the beneficial owner is a company that owns at least 10% of the capital in the Russian company and the value of the holding EUR 80,000. The rate is 15% in all other cases.
Impact on investors: DTT between Russia and Luxembourg provides for lower withholding tax rates on dividends to eligible tax residents.