Amendments to the Cyprus – Russia Double Tax Treaty

During the past few months, it was highly under discussion the matter raised by the Russian President, Vladimir Putin for the changes he is willing to make in the Russian Double Tax Treaties with various countries by increasing the withholding taxes on dividends and interests to 15%.

On the 10th of August, after extensive negotiations the Cypriot Minister of Finance requested and ensured the exemption of the 15% withholding taxes on the below:

  • Dividends for regulated entities, such as pension funds, insurance companies and listed companies
  • Interest payments from corporate and government bonds as well as Eurobonds

Read more details on the above at Globalserve website


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