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Business Recorder: Russia moves to end tax deal with ‘unfriendly’ countries

17-3-2023 |

Russia moved Wednesday to suspend double tax agreements with “unfriendly” countries in response to sanctions imposed on Moscow over the Ukraine conflict.

Double tax treaties prevent people or companies who receive income abroad also being taxed by their home countries.

Russia’s foreign and finance ministries said they had proposed that President Vladimir Putin “issue a decree suspending double taxation agreements with all countries that have imposed unilateral economic restrictive measures against Russia”.

The ministries said this was a “retaliatory measure” against sanctions taken by unfriendly countries since 2022.

Their statement follows an EU decision this week to add Russia to its tax-haven blacklist.

The ministries said it supported the suspension of the agreements “until Russia’s infringed rights are restored”.

Russia has signed taxation agreements with 80 countries, according to a list on the Russian taxation ministry.

This includes most EU countries, Britain and the United States.

Source: Business Recorder