New teleconference with Russia in July on double taxes treaty

3D illustration of "DOUBLE TAXATION" title on legal document

The dialogue between the Cypriot and Russian sides on the proposal of the Russian Federation to change the agreement on the avoidance of double taxation between the two countries continues.

According to information, during yesterday’s teleconference, the views of both sides were expressed again.

During the conference, the Cypriot side agreed to change it, if and when similar changes are made with other countries with which the Russian Federation maintains similar agreements, or to make some exceptions in the imposition of taxes.

As part of the teleconference, the Russian side asked the Cypriot authorities to submit their views in writing, while it was decided to hold a new teleconference on July 2.

In a speech on Wednesday (March 25th), the Russian president called on the Russian government to change its double taxation agreements and increase taxation on dividends and interest payments from Russia.

On April 1, the Cypriot authorities received an official letter from the Russian side requesting an increase in tax on dividends and interest, to 15%.