Russia Looking to Revise Tax Treaty with the Netherlands

The Russia Ministry of Finance reportedly proposed on 5 August 2020 the revision of the 1996 tax treaty with the Netherlands. In particular, the Ministry is looking to revise the treaty to provide for a minimum 15% withholding tax on all interest and dividend payments as instructed by the president earlier in the year. Under the current provisions of the treaty, interest is exempt from withholding and a 5% withholding tax rate is provided on dividends if the beneficial owner is a company dire…