Swiss Diplomats, Russian Finance Office Yet To Discuss Tax Deal Review - Ambassador

MOSCOW (Pakistan Point News / Sputnik - 27th April, 2021) The Swiss diplomats in Moscow and the Russian Finance Ministry have not yet discussed the revision of the bilateral double taxation avoidance agreement, Swiss Ambassador Krystyna Marty Lang said in an interview with Sputnik.

In September 2020, Russian Deputy Prime Minister Alexei Overchuk said that proposals to revise tax agreements could be sent to Switzerland and Hong Kong.

"So far, this topic has not been mentioned in our communication with the Ministry of Finance," the Swiss ambassador in Moscow said.

In March 2020, Russian President Vladimir Putin ordered that income in the form of dividends and interest transferred to accounts abroad must be liable to a 15 percent tax. The directive will require double taxation avoidance agreements with foreign nations to be revised. The president warned that Russia would unilaterally withdraw from deals with countries that fail to accept the offer.

The changes have so far affected four countries Cyprus, Malta, Luxembourg, and the Netherlands. Notably, Moscow has already started the procedure for denouncing the agreement with Amsterdam, as the negotiations were described as "difficult."