The Russian Finance Ministry plans to sign a protocol on amending the tax agreement with Luxembourg by the end of September, Deputy Finance Minister Alexey Sazanov said on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 15th September, 2020) The Russian Finance Ministry plans to sign a protocol on amending the tax agreement with Luxembourg by the end of September, Deputy Finance Minister Alexey Sazanov said on Tuesday.
"We have already signed a protocol on Cyprus, now ratification will take place. For Malta too. We will sign it with Luxembourg by the end of September, I hope," he told reporters.
In late March, Russian President Vladimir Putin ordered a 15 percent tax on income in the form of dividends and interest transferred to accounts abroad. This requires adjusting agreements with other countries to avoid double taxation. The president warned that Russia would unilaterally withdraw from such agreements with countries that would not accept its proposals.
The Russian Finance Ministry sent corresponding notifications first to Cyprus, and then to Luxembourg, Malta and the Netherlands. Earlier, Russian Deputy Prime Minister Alexei Overchuk said that proposals to revise tax agreements could be sent to Switzerland and Hong Kong.
