“It is important to sign a protocol on amendments to the agreement between the government of Cyprus and the government of Russia on the avoidance of double taxation,” the minister said to RIA Novosti.
In August, the Ministry of Finance announced an agreement with Cyprus on a tax agreement.
As noted in the department, the partners agreed to make changes "in terms of increasing the withholding tax to 15% in relation to dividends and interest."
It is planned that the document will enter into force on January 1, 2021.