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Russia Clarifies Eligibility for Bond Interest Withholding Tax Exemption

|Approved Changes|Russia
Russia

The Russian Ministry of Finance recently issued Guidance Letter 03-08-05/37090, which clarifies eligibility for the withholding tax exemption for interest paid on bonds issued by a Russian corporate borrower under the laws of a foreign country. According to the letter, interest payments on such bonds to a foreign company are exempt from withholding tax provided the following conditions are met:…

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