← All news

Tax agreement with the Netherlands denounced

On Tuesday, May 11, the State Duma unanimously adopted a draft law on the denunciation of the agreement between the Russian Federation and the Kingdom of the Netherlands on the double taxation relief agreement (DTRA).

Recall that the Russian side failed to agree on amendments to the DTRA with the Netherlands by analogy with the revision of similar agreements with Luxembourg, Malta and Cyprus. If the Russian side manages to complete the necessary procedures for the denunciation of the DTRA by June 30, 2021, then from January 1, 2022, the Russian withholding tax rate for the payment of dividends to the Netherlands shall be 15%, and for the payment of interest and royalties — 20%.

There are also plans to renegotiate the terms of DTRAs with Switzerland, Hong Kong and Singapore respectively.