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Double Taxation Avoidance Agreement with Cyprus will be preserved

Alexander Sitnikov, Managing partner

Yuriy Ivanov, Head of Tax practice

As it became known earlier, during the negotiations Cyprus agreed to the conditions of Russia to amend the agreement on the avoidance of double taxation in terms of increasing the withholding tax to 15% in respect of dividends and interest. All of us are now waiting for the new reality of the Cyprus offshore. 

The same goes for Malta and Luxembourg. According to information from Deputy Finance Minister Alexei Sazanov, these countries "in general" agreed to the conditions proposed by Russia to revise tax agreements.

Who will be the next in line? Find the answer in a brief analysis by VEGAS LEX.

Russia to keep double tax treaty with Сyprus
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