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Sep 16, 2020
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Revision of tax agreements will bring Russia up to 150 billion rubles a year

The revision of agreements on avoidance of double taxation with Cyprus, Luxembourg and Malta will bring 130-150 billion rubles a year to the Russian budget, writes TASS.

According to the State Secretary - Deputy Minister of Finance of the Russian Federation Alexei Sazanov, currently the agreement on Cyprus and Malta is at the final stage, the document on Luxembourg will be signed by the end of September.

“Accordingly, from the revision with these three jurisdictions, we expect to receive from 130 to 150 billion rubles a year. Mostly from Cyprus. Cyprus is several times ahead of all other jurisdictions, ”he stressed.

Recall that the agreement between Cyprus and the Russian Federation on amendments to the intergovernmental agreement on the avoidance of double taxation was signed on September 8. The same agreement was signed with Malta on 11 September.

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