The Cyprus Ministry of Finance has issued a release announcing the conclusion of negotiations for the amendment of the 1998 tax treaty with Russia. This includes revisions to increase the withholding tax rate on dividends and interest to 15%, while maintaining reduced rates in certain cases. Russia's Ministry of Finance also issued a release.
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Amendment of the Agreement for the Avoidance of Double Taxation between the Republic of Cyprus and the Russian Federation
The Ministry of Financ…