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Putin signs law ratifying double taxation agreement with Malaysia

According to accompanying documents, the goal of the agreement is to provide for conditions, whereby legal entities and individuals of Russia and Malaysia will not pay taxes twice from one and the same kind of income in their country and in the partner country

MOSCOW, November 2. /TASS/. Russian President Vladimir Putin signed a law ratifying a new agreement between the governments of Russia and Malaysia on elimination of double taxation in respect of income taxes and prevention of the tax evasion and a protocol to it.

The agreement in effect earlier was made between the governments of the USSR and Malaysia. The need to revise it was driven by changing conditions of the economic activity, the Russian government said.

According to accompanying documents, the goal of the agreement is to provide for conditions, whereby legal entities and individuals of Russia and Malaysia will not pay taxes twice from one and the same kind of income in their country and in the partner country. "Solution of this issue will facilitate mutual attraction of investments and provide for conditions to eliminate dual taxation of legal entities and individuals," the documents indicate.

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