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Denunciation of tax convention with Switzerland not expected — official

In 2020, the Russian president ordered to impose the 15% tax on income in the form of dividends and interest transferred to accounts overseas

CHELYABINSK, January 21. /TASS/. The final decision on the tax agreement with Switzerland can be made in late February and no denunciation is expected, Deputy Finance Minister of Russia Alexey Sazanov told reporters.

"A mutually beneficial structure for revision of the agreement is currently elaborated. The final decision is expected in late February. Negotiations are meaningful and friendly. I believe there will be no denunciation," Sazanov said.

In late March 2020, Russian President Vladimir Putin ordered to impose the 15% tax on income in the form of dividends and interest transferred to accounts overseas. This required the revision of tax conventions with other countries.