Russia/Cyprus Tax Treaty Protocol signed on 7 October 2010 in Cyprus during official visit of President Medvedev

The Protocol to the Double Tax Treaty between Russia and Cyprus was signed in Nicosia on 7 October 2010 during Russian president Medvedev’s official visit to Cyprus.

The economic relations between the two countries are gaining even greater momentum.

Shortly, the government of Russia is expected to announce the removal of Cyprus from the Russian “Black List” (Before the end of the current year).

 1.    No charges in Withholding Tax rates

2.    New definition for dividends

3.    New definition for interest

4.    Changes relating to Capital Gains, expected to be effective from 2015

5.    Exchange of information – Assistance in Collection – Mutual Agreement

EuroAudit is at your entire disposal to assist with any queries you may have in relation to the above and help you understand how these changes may affect your enterprise.