It has been reported that negotiations between Russia and the Netherlands for amendments to the existing income tax treaty between the two countries have reached an impasse, and Russia has proceeded to denounce the current treaty and consider it as void.

This confirms Russia’s stance to amend all double tax treaties with other jurisdictions that may have lead them to have a competitive advantage against Cyprus with their current treaties.

Following a request from Russia, Cyprus was the first to reach an agreement with for the amendment of double tax treaty between the two countries on the 10th of August 2020.

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