“An amendment to the agreement on double taxation was agreed today with Deputy Prime Minister (of the Russian government, Alexei - RT ) Overchuk. This is an important and mutually beneficial agreement, ”he wrote on his Twitter.
The Ministry of Finance of Cyprus in a corresponding statement also expressed satisfaction with the achievement of an agreement with Russia on
“The Russian side asked for amendments to two key elements of the agreement, namely to increase the withholding tax on dividends and interest to 15%, respectively,” the Ministry of Finance of the island republic said.
At the same time, as noted, Cyprus has ensured the reduction of the specified withholding tax to 0% or 5% for pension funds and insurance companies, as well as maintaining a zero tax on license fees.