Russia’s Ministry of Foreign Affairs has confirmed the termination of the country’s tax treaties with Denmark and Latvia.Continue Reading
Russia
Transfer pricing news, BEPS news, and international tax news in Russia
Denmark terminates tax treaty with Russia
Denmark has gazetted regulation terminating its tax treaty with Russia.
The regulation was published in the Official Gazette on November 15.
The termination will take effect from January 1, 2024.
Russia to ease business interests hit by tax treaty suspension
Russia will pass legislation to ease consequences for Russian businesses resulting from recent suspension of certain tax treaty provisions, the Finance Ministry has said.Continue Reading
Russia rejects UK request to lift tax treaty suspension
Russian Finance Ministry has rejected UK’s request to withdraw the partial suspension of the Russia-UK tax treaty.Continue Reading
Revoke suspension of tax treaty: UK tells Russia
The UK government has asked Russia to revoke the suspension of the 1994 UK-Russia tax treaty.Continue Reading
Vladimir Putin suspends tax treaties with ‘unfriendly’ countries
Russian President Vladimir Putin has suspended several tax treaties with “unfriendly” countries.
The suspension decree was signed on August 8. The decree includes tax treaties signed with the US, the UK, and Canada, and other countries that had imposed unilateral economic sanctions on Russia.
“In view of the need to take urgent measures in connection with the unfriendly actions of a number of foreign states against the Russian Federation, its citizens and legal entities, the President resolved to suspend a number of provisions of tax treaties with the United States of America, European Union countries and other unfriendly states,” an official statement from the President’s office notes.
The suspension was proposed by the Finance Ministry in March 2023.
Denmark terminates tax treaty with Russia
Denmark has terminated its tax treaty with Russia.
Denmark terminated the tax treaty vide Notice No. 27/2023 dated June 19, 2023, in accordance with Article 29 of the tax treaty.
The tax treaty will cease to have effect on January 1, 2024.
Russia, Belarus removed from IOTA tax membership
The membership of Russia and Belarus in the Intra-European Organisation of Tax Administrations (IOTA) has been terminated. Continue Reading
OECD Seeks Input on MAP Peer Reviews of Further Eight Jurisdictions
The OECD is seeking taxpayers’ input for the seventh round of base erosion and profit shifting (BEPS) Action 14 Stage 1 peer reviews of further eight jurisdictions.
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Mutual Agreement Procedure Statistics Published for 2017
The OECD on October 10 published its 2017 mutual agreement procedure (MAP) statistics covering 85 tax jurisdictions.
According to the 2017 MAP statistics, new transfer pricing MAP cases are up by 25 percent and other MAP cases by 50 percent. Anecdotal evidence suggests that the increase in new MAP cases is due to a range of factors including the effects of the new reporting framework and increased awareness of and expectations from taxpayers about MAP, the OECD noted.Continue Reading
Baker McKenzie Elects New Tax Partners
Law firm Baker McKenzie has announced the election of 13 new tax partners.
The newly elected partners are: Michael Nixon (Singapore), Simone Bridges (Sydney), Kirill Vikulov (Moscow), David Jamieson (London), Jessica Eden (London), Rodrigo Castillo Cottin (Bogota), Paul F. DePasquale (New York), Tatyana Johnson (New York), Victor Alejandro Morales-Chavez (Mexico City), Jonathan Welbel (Chicago), Joshua Nixt (New York), Andrew C. O’Brien-Penney (Chicago), and Ivan Tsios (Chicago).Continue Reading