Russia, Cyprus sign amendments to double taxation avoidance deal

NICOSIA, Sep 8 (PRIME) -- Russian Foreign Minister Sergei Lavrov and his Cypriot counterpart Nikos Christodoulides have signed a protocol on amendments to a double taxation avoidance deal between the states, according to information obtained by PRIME at the signing ceremony on Tuesday.

In March, Russian President Vladimir Putin suggested imposing a 15% tax on dividend yields withdrawn to accounts in foreign jurisdictions, which needs adjustments to agreements on avoidance of double taxation with other countries. Russia will cancel such agreements unilaterally if a consensus is not reached.

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