Russia considers suspending double taxation agreements with "unfriendly" countries
Date
3/15/2023 9:33:23 AM
(MENAFN) Russia's Foreign Ministry stated on Wednesday that it is considering suspending its double taxation agreements with countries deemed "unfriendly" towards the nation. The announcement follows years of Western countries imposing sanctions on Russia, which the ministry has deemed to be violations of international law. Last month, the European Union included Russia on its list of non-cooperative jurisdictions in the tax sphere. As a result, the Russian Foreign Ministry and Finance Ministry have proposed that President Vladimir Putin sign a decree to suspend the double taxation agreements with these countries.
In a statement, the Russian Foreign Ministry said that the proposal aims to "suspend the validity of these (double taxation) agreements until the restoration of the violated rights of Russia." The ministry has claimed that the Western nations' unilateral economic restrictive measures against Russia since 2022 are in violation of international law, giving Russia grounds to introduce retaliatory measures.
The ministry has not specified which countries would be affected by the potential suspension of the double taxation agreements, but it noted that the Western nations have been imposing sanctions on Russia since 2014, following Moscow's annexation of Crimea. The move is part of an ongoing diplomatic tension between Russia and the West, with both sides imposing economic sanctions and other restrictive measures.
The potential suspension of the double taxation agreements highlights Russia's determination to defend its rights and interests in the international arena. It also serves as a warning to other nations that may consider imposing unilateral economic sanctions against Russia. The ministry's proposal to suspend the double taxation agreements until Russia's rights are restored could have significant implications for the affected countries' businesses and investors. It remains to be seen how the situation will evolve and whether Russia will implement the proposal.
MENAFN15032023000045012476ID1105785924
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.