On 22 December 2020, the Russian State Duma (lower house of parliament) approved for ratification the pending protocols to the 1998 income and capital tax treaty with Cyprus and to the 1993 income and capital tax treaty with Luxembourg. The protocols were signed on 8 September and 6 November 2020, respectively, and provide for a minimum withholding tax rate of 15% on dividend and interest income, with certain exceptions.
Both protocols will enter into force once the ratification instruments …