Cyprus and Russia Agree on a Protocol to Amend the Double Tax Treaty
Cyprus and Russia agree on a Protocol to amend the double tax treaty between the two countries as from 1 January 2021.
The Council of the European Union on 24 June 2020 announced that the EU will give Member States the option of more time to comply with certain rules on cross-border information reporting. The deferral is provided as a response to COVID-19 pandemic.
On 19 June 2020, the House of Representatives approved the implementation of the remaining two requirements of the EU Anti – Tax Avoidance Directive
(“ATAD”) i.e. the exit taxation and the rules countering hybrid mismatches within the EU.
On 30 April 2020, Russia notified the OECD that it had completed its national procedures for implementing the MLI for 27 double tax treaties. The MLI becomes effective as from 1 January 2021.