Renegotiating the Double Tax Treaty between Cyprus and Russia

Renegotiating the Double Tax Treaty between Cyprus and Russia

The Minister of Foreign Affairs Mr Nicos Christodoulides had a telephone conversation with the Minister of Foreign Affairs of the Russian Federation Mr. Sergei Lavrov, discussing the bilateral economic relations between the two countries. In this context they exchanged views on the recent proposal of Russia to Cyprus for renegotiating certain terms of the agreement on the Double Tax Treaty between the two countries, proposing the increase of tax on dividends and interests at a rate of 15%, instead of 5%, 10% and 0% that are in existence today.
Mr. Lavrov informed Mr. Christodoulides, that the particular proposal of the Russian Federation is part of a decision taken to amend specific terms in existence in the agreements, that the Russian Federation has as part of Double Tax Treaties with countries of the EU.
In this context, similar proposals will be sent to all member states of the EU, that have Double Tax Treaties with the Russian Federation.

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