The Cyprus Ministry of Finance has announced that agreement has been reached with the Russian authorities to postpone the application of the 2010 protocol amending Article 13 (Capital Gains) of the 1998 income and capital tax treaty between the two countries. In parallel, an additional protocol is being finalized to provide for the application of the revised provisions.
The 2010 protocol makes a number of amendments, including the addition of provisions regarding the taxation rights of gain…