A new Agreement on the Double Taxation Elimination between Russia and Malaysia was signed.

The agreement establishes: the withholding tax rate on income in the form of dividends in the amount of 10% with 25% participation in capital during the year and 15% in other cases; the tax rate on interest and royalties is 10%. There are also exceptions for dividends and interest for governments and state-owned companies.

Ratification of the agreement must take place before the end of this year in order for its provisions to apply from January 01, 2025.

Document: Information from the Russian Ministry of Finance dated May 17, 2024 “Russia and Malaysia signed the Double Taxation Avoidance Agreement.”