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Russia Is Considering Amendments To Tax Agreements With Switzerland And Hong Kong

Russia Is Considering Amendments To Tax Agreements With Switzerland And Hong Kong

Russia, following Cyprus, Malta, Luxembourg, and the Netherlands, may initiate amendments to tax agreements with two more popular business jurisdictions - Switzerland and Hong Kong.

At a meeting between President Vladimir Putin and the government on Tuesday, Deputy Prime Minister Alexey Overchuk, who oversees international cooperation in the government, reported on successful negotiations with Cyprus, which agreed to change the tax agreement with the Russian Federation in terms of increasing the tax on dividends at the source.

"We conduct a careful analysis of all agreements on the avoidance of double taxation that the Russian Federation has with foreign partners. We are now looking closely at Switzerland and Hong Kong to address them with similar proposals. If you instruct us, we will do it, " the Deputy Prime Minister said.