The Russian Finance Ministry may soon start negotiations with Switzerland to review the bilateral double taxation avoidance deal, deputy finance minister Alexey Sazanov said on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 17th February, 2021) The Russian Finance Ministry may soon start negotiations with Switzerland to review the bilateral double taxation avoidance deal, deputy finance minister Alexey Sazanov said on Wednesday.
In March 2020, Russian President Vladimir Putin ordered income in the form of dividends and interest transferred to accounts abroad be liable to a 15 percent tax. This required adjusting double taxation avoidance agreements with foreign nations. The president warned that Russia would unilaterally withdraw from deals with countries failing to accept the offer.
"We have already introduced amendments [to the deals with] Luxembourg, Cyprus and Malta. We are now engaged in negotiations with the Netherlands and will perhaps start negotiations with Switzerland," Sazanov told Russia's lower house lawmakers.
