On 6 October 2020, the Russian government issued an order authorizing the signing of an amending protocol to the 1993 income and capital tax treaty with Luxembourg. The two sides agreed in principle in August 2020 to an increase in the withholding tax rates on dividends and interest to 15% under the treaty, although reduced rates will apply in certain cases. This includes a 5% withholding tax rate on dividends if the beneficial owner is a qualifying listed company and a withholding tax exempt…