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Russia Clarifies Exemption for Dividends Paid to Foreign Shareholder when Actual Beneficial Owner is Resident in Russia

|Approved Changes|Russia
Russia

The Russian Ministry of Finance recently published Letter No. 03-08-05/24775 of 13 April 2018, which clarifies the application of Russia's participation exemption in relation to dividends paid to a foreign shareholder (Cyprus in this case) when the actual beneficial owner is a company resident in Russia. Under Russia's participation exemption, Russian residents are generally entitled to an exem…

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