The Russian State Duma last week ratified taxation treaties with New Zealand, Syria and the Republic of Ireland designed to eliminate incidences of double taxation and combat tax evasion.
Speaking with regard to the ratification recently, Russian Deputy Finance Minister Mikhail Motorin observed that the treaties will prevent institutions and individuals from having to pay tax in both Russia and the signatory countries on the same type of income. The minister also predicted that the move will boost foreign investment.
According to the Pravda news agency, the agreements with New Zealand and Ireland will allow for a twelve month moratorium on local taxation in the construction and manufacturing sectors, whilst the agreement with Syria has provisions for a six month moratorium.
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