President Vladimir Putin has signed a decree to unilaterally suspend double-taxation treaties with over 30 "unfriendly countries”, including the Unites States, EU countries and Canada. Published on August 8, the decree puts on hold all agreements until "the elimination by foreign states 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, with 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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