Putin signs law ratifying dual-taxation avoidance convention with Malta

Russian President Vladimir Putin has signed into federal law concerning the ratification of a convention between Russia and Malta on the avoidance of dual taxation and the combating the avoidance of income taxes, the Kremlin press service said.

The bill was passed by the State Duma on March 21 and approved by the Federation Council on March 26.

The convention was signed in Moscow on April 24 of 2013.

The aim of the convention is providing conditions to eliminate duel taxation on legal entities and private individuals.

Russia may reach for offshore assets with help of OECD>>>

Russia could see a windfall of up to $6 billion in extra taxes if the government passes a bill to ratify OECD tax convention.

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