Russia signed a Multilateral Convention for the implementation of tax treaty measures relating to BEPS Action 15

2017-09-08

Deofshorization.

 

On June 7th, 2017, the Russian Federation signed a Multilateral Convention for the implementation of tax treaty measures relating to BEPS Action 15.

When signing the Convention, Russia adopted the most strict approach. The main characteristic of the Convention is the vague “European” wording and lack of certainty, which is inappropriate for the enforcement of Russian tax practice. This would mean that the Russian tax authorities can raise tax claims to practically any company on the basis of the Convention, even before the same has been fully enforced.

Therefore, ratification and implementation of the Convention as currently worded, will have huge negative impact on the application of tax benefits under Double Tax Treaties. ​

 

Please attend the Consulco Seminar about Deoffshorization. "Cyprus under pressure: the future is being decided today" will be held by BEST LEGAL on 25 September 2017 in Cyprus, Limassol, at Four Seasons Hotel.


More information can be found on the website of the organizer >>>

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