Russia considers suspending double taxation agreements with 'unfriendly' countries
Date
3/16/2023 8:17:24 AM
(MENAFN) The Russian Foreign Ministry announced on Wednesday that it has proposed the suspension of its double taxation agreements with countries that have imposed unilateral economic restrictive measures against Russia. The proposal was made jointly with the Finance Ministry and was submitted to the President of the Russian Federation for approval.
According to a statement from the Foreign Ministry, the proposal comes after Western countries have been imposing sanctions on Russia since 2022. The ministry further stated that such actions are in violation of international law and have given Russia grounds for introducing retaliatory measures.
The proposed suspension of the validity of double taxation agreements with unfriendly countries is seen as one of these retaliatory measures. The statement suggests that the suspension will remain in place until the violated rights of Russia are restored.
The move comes after the European Union (EU) recently put Russia on its list of non-cooperative jurisdictions in the tax sphere. The European Union's decision has been met with criticism from Russia, which views it as an unfriendly action.
Russia's proposed suspension of double taxation agreements could have significant implications for trade and investment between Russia and the affected countries. The move could also have wider geopolitical implications, as it signals a more confrontational approach by Russia towards countries that it perceives as unfriendly.
It remains to be seen how other countries will react to Russia's proposal. Some may view it as a legitimate response to economic sanctions, while others may see it as an aggressive and destabilizing move. Ultimately, the proposal could further strain Russia's relations with the international community, particularly with Western countries.
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