The Russian Ministry of Finance has sent a proposal to Switzerland to revise the tax agreement, said State Secretary – Deputy Finance Minister Alexei Sazanov. According to him, the talks will take place in October.
“We sent our Swiss colleagues our proposal to revise the agreement … “B”) that they are ready to enter into negotiations with us. Negotiations will take place in October, ”said Mr. Sazanov on the sidelines of the Moscow Financial Forum (quoted by TASS).
In 2020, Russian President Vladimir Putin proposed to increase the tax on dividends transferred to foreign accounts to 15%. Now this tax rate is 5-10%. The President noted that with the help of offshore companies, they pay at rates lower than those established domestically. Russian Prime Minister Mikhail Mishustin in February announced his readiness to denounce tax agreements with countries that do not agree to change them.
Mr. Sazanov announced in May that the Russian Ministry of Finance would propose to change tax treaties with Hong Kong, Singapore and Switzerland. This, according to him, “will allow already to cover more than 90% of payments to transit jurisdictions and additionally replenish the treasury of the Russian Federation.” Elena Panina, a member of the Duma Committee on International Affairs, noted that the agreements might have to be denounced unilaterally. Alexander Tokarev from KPMG said that Switzerland is not so popular for registering holding companies, but it is very much in demand for registering trading companies.
Details – in the material “Kommersant” “The closure of Holland is approved by the State Duma.”
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