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Putin signs law to ratify double taxation elimination agreement with Abkhazia

The agreement was developed and signed on May 7, 2024 in accordance with the program of forming common social and economic space of the two countries

MOSCOW, November 2. /TASS/. Russian President Vladimir Putin signed a law ratifying the agreement between the governments of Russia and Abkhazia on elimination of double taxation and prevention of the tax evasion in respect of income taxes.

The agreement was developed and signed on May 7, 2024 in accordance with the program of forming common social and economic space of the two countries.

"The goal of the agreement is to provide for conditions, whereby legal entities and individuals of each of contracting nations (the Russian Federation and the Republic of Abkhazia) will not pay taxes twice from one and the same kind of income in their country and in the partner country. Solution of this issue will facilitate mutual attraction of investments and provide for conditions to avoid double taxation of legal entities and individuals," as indicated in accompanying documents to the agreement.

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