Non-political reasons for requesting an amendment to a tax agreement, Russian Embassy says


There are no political reasons for Russia’s request to amend the double taxation agreement between the Russian Federation and the Republic of Cyprus, the Russian embassy in Nicosia told CIPE, seeking comment.

According to the embassy, ​​the Republic of Cyprus has been selected by the Russian authorities as the first country to amend this agreement for objective reasons. 

As stated in the response of the Russian Embassy “34% of the cumulative foreign direct investment in the Russian economy comes from Cyprus.