On 4 October 2006, the State Duma (the lower chamber of the Russian parliament) passed in the first reading a Bill, which amends the Tax Code in respect of taxation of dividends.
Withholding tax rate – non-resident individuals
Under the Bill, the final withholding tax rate on dividends paid to non-resident individuals is 15% (currently, 30%).
Participation exemption
The Bill also establishes a participation exemption for divid…