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| Luxembourg, Russia Ink DTA Amendment |
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, November 23, 2011
During a recent visit to Moscow, Luxembourg’s Finance Minister Luc Frieden
and Finance Minister of the Russian Federation Anton Silouyanov signed an amendment
to the existing bilateral agreement between Luxembourg and Russia, designed to
avoid double taxation and to prevent tax evasion in the area of taxes on wealth
and on income.
The double taxation agreement (DTA) between the two countries was signed in
Moscow on June 28, 1993.
During the course of the visit, Luxembourg’s Finance Minister Frieden
held talks with his Russian counterpart Silouyanov as well as with the Deputy
Finance Minister of the Russian Federation Sergey Dmitrievich Shatalov.
Commenting on the latest signing, the Luxembourg government explains in its
release that the amendment was in response to efforts on the part of Luxembourg
to improve provisions contained in the treaty. The
government notes that the amendment reduces the tax levied on dividends from
10% currently to 5%.
As part of his latest visit to Moscow, Luc Frieden also met with President
of the Central Bank of Russia Sergey Ignatiev as well as with various business
leaders.
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