Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Russia and Cyprus Signed a Protocol to Amend the Tax Agreement
12.09.2020 15:16
Russia and Cyprus Signed a Protocol to Amend the Tax Agreement

Russia and Cyprus signed a protocol on the avoidance of double taxation between the countries. The document was signed by the State Secretary - Deputy Minister of Finance of Russia Alexey Sazanov and Minister of Finance of Cyprus Konstantinos Petridis. The ceremony took place as part of the visit of the Russian delegation led by Foreign Minister Sergei Lavrov to Nicosia.

"The protocol defines a list of exceptions, according to which the application of a preferential treatment for income in the form of dividends and interest will be provided, setting the tax rate at no more than 5%," the Ministry of Finance of Russia said in a statement.

      Exceptions are provided "for institutional investments, as well as for public companies, at least 15% of which are in free float, and owning at least 15% of the capital of the company that pays the specified income during the year." The ratification of the protocol should take place by the end of 2020, the provisions of the protocol will begin to apply from January 1, 2021.

      The day before, on September 7, the government approved and published a draft protocol on changing the tax agreement with Cyprus. The document was developed on behalf of President Vladimir Putin. The Ministry of Finance was instructed to negotiate with the Cypriot side and sign an agreement. According to the Ministry of Finance, if the new agreement is applied, the annual additional revenues to the Russian budget will amount to 150 billion rubles. Similar protocols are planned to be signed with Malta, Luxembourg and the Netherlands.


Author: Anna Dorozhkina

Tags: Russia International Russian Laws    

Next Previous

You might also find interesting:

Russian Foreign Ministry: about 25 Thousand Russians Abroad Intend to Return to their Homeland
Russia Ranked 20th in Europe in Terms of Gasoline Availability
Ural Airlines will Carry out Flights Returning Russian Tourists from India to Yekaterinburg
Foreign Students may be Allowed to Enter Russia
Russian Party has Agreed to Open the Austrian Consulate General in St. Petersburg

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
hockey  Ski resorts  Communists   Pyaterochka   Russian art  Lumiere Hall  International Dog Sled  Vladimir Zheleznikov   Dynamo Moscow  Russian events  Dimitrovgrad  Moscow actions  Russian beaches  travel to Russia  Russian Cinema  Aeroflot  Russian drinks  St. Petersburg  Russian regions  Aleksandr Nevsky  Russian tourism  coastal cluster  Russian Premier League  elections in Russia  Krasnoyarsk  Russian festivals  Russian science  Perm Territory  e-commerce in Russia  Archaeology  Mercedes-Benz Fashion Week Russia  Russia archaeology  Festivals in Moscow  Moscow Philharmonic  Sergey Bezrukov  Multimedia Art Museum  Russian rouble  Russian business  Adygea  Spring-Summer'13  Russian Internet  Moscow  Russian football  parking in Moscow  Power of Siberia  Exhibitions in Moscow  Russian people  Marianna Verevkina  Russian tourist destinations  Mari El Republic 

Travel Blogs
Top Traveling Sites