President Vladimir Putin has signed a decree to suspend double-taxation agreements and tax evasion treaties with over 30 countries "unfriendly countries”, including the Unites States, EU member states and Canada. Published on August 8, the decree rationalises this suspension on grounds of “violations of the legitimate economic and other interests of the Russian Federation, the rights of its citizens and legal entities”. What is the impact of this executive order? The signature of this executive order cancels withholding tax provisions, property income tax relief, dividends, interest, royalties, pensions and other tax relief and comes into immediate effect. Which countries are concerned? Albania, Australia, Austria, Belgium, Bulgaria, Canada, Croatia, Czech Republic, Cyprus, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Iceland, Italy, Japan, Lithuania, Luxembourg, Malta, Montenegro, New Zealand, Norway, North Macedonia, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, South Korea, Spain, Sweden, Switzerland, United Kingdom and the United States. |
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