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Amending protocol to the Double Tax Treaty between Cyprus & Russia
Date: 09/10/2020
Author: Costas Michail
Dear Clients and Associates, The protocol signed between the Governments of Cyprus and Russia increases the withholding tax (WTT) that may be charged at source, albeit allows certain carve outs. The changes are contemplated to come into effect as from January 1st, 2021. The Russia Government announced its intention to enforce similar changes to the DTTs currently in force between Russia Federation and other jurisdictions, such as Luxembourg, Malta, Netherlands, Hong Kong, Switzerland and media reports that relevant notices have already been issued. It also appears that Malta and Luxembourg have already agreed to the proposed increases.
Download: Protocol amending DTT.pdf
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