Russia and Malaysia sign tax agreement

The Russian Finance Ministry said the move is a significant step towards redirecting Russian business to Asia and the Middle East.

MOSCOW: Russia and Malaysia have signed an agreement to avoid double taxation, the Russian Finance Ministry says.

The ministry said yesterday, the move is a significant step towards redirecting Russian business to Asia and the Middle East.

The ratification of the agreement is expected to take place before the end of this year and come into force on Jan 1, 2025.

Russia last year suspended double-taxation agreements with what it calls “unfriendly countries” – those that have imposed sanctions on Moscow over its war in Ukraine. — Reuters