Amendments to the Double Taxation Treaty between Cyprus & Russia

On 8.09.2020, Cyprus & Russia signed the protocol for the amendment of  the Treaty for Avoidance of Double Taxation between the two countries.

The amending protocol increases the withholding tax on dividends and interest income to a maximum of 15% exempting regulated entities such as pension funds, insurance companies and listed entities with specific characteristics) and interest payments from corporate bonds, government bonds as well as Eurobonds.