March 29, 2024

Athens News

News in English from Greece

The Ministry of Finance and the Ministry of Foreign Affairs of the Russian Federation proposed to suspend the agreement on the avoidance of double taxation

The Ministry of Finance and the Ministry of Foreign Affairs of Russia have proposed to suspend double taxation agreements with unfriendly countries.

The initiative, with which the heads of Russian departments turned to President Vladimir Putin, was proposed as a response to the sanctions imposed against the Russian Federation.

Double taxation is a situation where income (the same) is taxed in two or more countries. Similar agreements have been concluded by Russia with several dozen countries. The Ministry of Finance and the Ministry of Foreign Affairs are proposing to suspend the validity of documents signed by those states that have imposed sanctions against Russia. It is proposed to suspend the agreements “until the rights of Russia violated by the sanctions are restored.”

In the Ministry of Finance, writes TASS, recalled that Western countries from 2022 introduce unilateral economic restrictive measures against the Russian Federation. In particular, in February 2023 EU included Russia in the list of non-cooperative tax jurisdictions, the so-called EU black list.

The Ministry of Finance pointed out that the introduction of restrictive measures unilaterally violates the norms of international law. Accordingly, according to the department, the Russian Federation has grounds to introduce retaliatory measures.



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