The Federation Council of the Russian Federation approved the law on the suspension of a number of provisions of international agreements with 38 states in the field of taxation. This was reported by TASS.
The decision concerns countries that have taken unfriendly actions against Russia. These include the USA, Canada, the UK, Germany, France and other European countries, as well as Japan, Australia and New Zealand.
The validity of almost all agreements on where the income of companies and citizens of these countries will be taxed on the territory of the Russian Federation is suspended. Additionally, the publication states that the ability to benefit from discounted rates, benefits and exemptions has also been cancelled.
In particular, the decision concerns the rules for taxation of dividends, interest, income from transactions with real estate and other property, income from the transfer of intellectual property rights, employment and other types of income.
At the same time, some provisions of international agreements will continue to be applied. We are talking about general rules, methods for eliminating double taxation, common procedures for coordinating approaches on various issues, information exchange between the tax authorities of two countries, tax privileges for employees of diplomatic missions.
Before that in Russia started Development of a bill to protect business tax benefits.
Previously European Commission approved Mechanism for blocking profits from frozen Russian assets.