Foreign Minister: Russia is asked to change tax agreements with competitors

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Russia’s decision to amend the Cyprus-Russia Double Taxation Agreement was the subject of a telephone conversation between President Anastasiadres and Vladimir Putin, a Russian counterpart.┬áThis was confirmed by Foreign Minister Nikos Christodoulides speaking this morning on state television, who did not confirm press reports about the final decisions.

Specifically, Nikos Anastasiadis pointed out that due to the pandemic, some new data have been created in the Russian economy, adding that the decision to change the bilateral tax agreement is made for purely economic reasons. He clarified that Russia has asked for changes in the tax agreements it has concluded with EU member states.

Mr. Christodoulidis stressed that there is no final decision, as, as he stressed, these consultations continue, adding that the Cyprus Intergovernmental Committee – Russia continues talks.

At the same time, the Foreign Minister stressed that the demand is for Russia to make similar changes to the Double Taxation Agreements it has concluded with Malta, Luxembourg and the Netherlands, countries that are competing destinations of Cyprus in the field of professional services.