On 20 August 2014, the Russian Ministry of Finance published a draft law that would increase the profit tax rate on dividends paid to Russian companies from both Russian and foreign sources. The law would increase the rate from 9% to 13% for companies not qualifying for participation exemption.
The 0% rate participation exemption applies for Russian companies that have held at least 50% of the paying company's capital for a period of at least 365 days ending the day the decision to pay divi…