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Protocol amending Article 13 “Capital Gains” of the DTT between Cyprus and the Russian Federation to be postponed

Protocol amending Article 13 “Capital Gains”

Protocol amending Article 13 “Capital Gains” of the DTT between Cyprus and the Russian Federation to be postponed

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Board Member, Head of Tax

KPMG in Cyprus

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The Ministry of Finance of Cyprus announced that an agreement has been reached between the Russian Government and the Government of Cyprus for postponing the application of the Protocol amending Article 13 of the Agreement between the Governments of Cyprus and the Russian Federation for the Avoidance of Double Taxation with respect to taxes on income and on capital, which was signed on October 7th, 2010.

In parallel, an additional Protocol is currently being drafted, providing for the postponement of the provisions of the Protocol in force on Article 13, until similar provisions are introduced in other bilateral Agreements for the Avoidance of Double Taxation between the Russian Federation and other European countries.

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