Putin approved the denunciation of the agreement with Latvia on the avoidance of double taxation
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President Vladimir Putin signed a law denouncing the agreement between the governments of Russia and Latvia on the avoidance of double taxation and the prevention of tax evasion with regard to taxes on income and capital. Relevant Document published on the official portal of legal information.
Deputy Finance Minister Alexei Sazanov said earlier that Latvia’s failure to comply with the provisions of the agreement is a violation of its terms, and, accordingly, Russia suspends its operation. “Considering that Latvia’s return to fulfilling its obligations under the agreement is unlikely, the agreement is also proposed to be denounced,” he added.
Following the start of a special military operation on the territory of Ukraine, several Western countries, including the UK, Germany, the US and Switzerland, suspended the exchange of tax information with Russia and Belarus, making it more difficult for the Russian authorities to obtain information about the income of Russian individuals and companies controlled by them for abroad.
The list of countries that do not exchange tax information with Russia is used for the purpose of taxing the profits of controlled foreign companies.
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