MOSCOW, March 15. /TASS/. Russia’s Finance Ministry and Foreign Ministry propose suspending double taxation agreements with unfriendly countries until Russia’s rights are restored, the Finance Ministry said in a statement.
"Since 2022, unilateral economic restrictive measures have been imposed by Western countries against Russia. In particular, in February, the European Union added Russia to the list of non-cooperative tax jurisdictions, the so-called EU black list," the statement says.
"The introduction of restrictive measures unilaterally is a violation of international law. Accordingly, Russia has grounds for the introduction of retaliatory measures. In this regard, the Russian Finance Ministry and the Russian Foreign Ministry proposed to the President of the Russian Federation to issue a decree on the suspension of agreements on avoidance of double taxation by all countries that have introduced unilateral economic restrictive measures against Russia," the statement says.
It is proposed to suspend these agreements until the violated rights of Russia are restored, the Finance Ministry says.
If the proposal of the two ministries is supported, the application of reduced withholding tax rates (tax exemptions) on income covered by double taxation agreements will be suspended from the moment the relevant decree comes into effect.