Having concluded successful renegotiations with Cyprus, Malta and Luxembourg over Double Tax Treaty agreements, Russia is finding the Netherlands a harder nut to crack in amending the terms. The result may be a suspension of the DTA altogether. Russia has been amending these treaties to clamp down on what Moscow sees as overly friendly tax[…..]
Moscow-Beijing annual trade worth US$20 billion Cities connected via Trans-Siberian railway Agreement to develop city infrastructures, health programs and expand trade
Op/Ed by Chris Devonshire-Ellis Mass vaccinations commence this month in Russia Manufacturing partnerships with other countries Sovereign Wealth Funds Overseas manufacturing from January 2021 Production scale issues over sheer size of populations The Russian ‘Sputnik V‘ Covid-19 vaccine has entered into mass production and will be available for Russian nationals from the middle of December.[…..]
Russia and the Grand Duchy of Luxembourg have agreed an addendum to the 1993 tax convention between the two countries. The Ministry of Finance confirmed that the conventional withholding tax rate on dividends and interest will be raised to 15%, with some exceptions.
Russia’s Central Bank is assessing the potential use for a Digital Ruble with Olga Skorobogatova, the bank’s First Deputy Chairperson of the Bank of Russia Olga Skorobogatova stating that the digital ruble could be used in the future for international money transfers.
Foreign nationals are being made more welcome to live and work in Russia with the Russian Economic Ministry planning to introduce a golden visa scheme, offering foreigners a permanent residency permit in exchange for investing in the Russian economy. Draft legislation drawn up by the Economic Ministry seeks to attract foreign investors by offering residency rights[…..]
Op/Ed by Chris Devonshire-Ellis Northern Sea Passage Route is opening up the Arctic Huge time and cost savings on China-EU shipping Massive Arctic Free Trade Zone announced Significant tax and financial incentives Free land use available
Successful sea trials have huge cost and time saving implications for EU-China Shipping Op/Ed by Chris Devonshire-Ellis The Arktika nuclear-powered icebreaker, which entered service on October 21, escorted the first vessel along the Northern Sea Passage, the Russian nuclear icebreaker fleet operator, Atomflot, confirmed this week.
Op/Ed by Chris Devonshire-Ellis Numerous tax incentives for foreign investors in Hainan Island Russian bank to open in Haikou Medical tourism, finance and trade are all developing sectors
Op/Ed by Chris Devonshire-Ellis Follows similar scheme in Russia’s Far East which attracted 40,000 residents Acquisition of 1 hectare of free land Foreigners may apply from early 2022