Luxembourg, Russia Ink DTA Amendment

by Ulrika Lomas, Tax-News.com, Brussels

23 November 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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