Ministry of Finance and Foreign Ministry propose to suspend double taxation agreements with unfriendly countries
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The press service of the Ministry of Finance announced a proposal formulated by the finance department and the Foreign Ministry to suspend double taxation agreements with unfriendly countries. It is assumed that the suspension will act as a mirror – until the restoration of the previously limited rights of the Russian Federation.
The Ministry of Finance of Russia and the Ministry of Foreign Affairs of Russia proposed to the President of the Russian Federation to issue a decree on the suspension of agreements on the avoidance of double taxation with all countries that have introduced unilateral economic restrictive measures against Russia.
The communication also provides arguments regarding the legal basis of the proposal. In particular, it mentions the unilateral restrictive measures introduced by Western countries in 2022, supplemented by the recent inclusion of the Russian Federation in the list of “non-cooperative tax jurisdictions”, and notes that the unilateral nature of these actions is a violation of international law and gives the Russian Federation “reasons for introducing retaliatory measures.”
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