Russian President Vladimir Putin signed a law denouncing the agreement between the governments of Russia and the Netherlands on the avoidance of double taxation and the prevention of tax evasion with respect to taxes on income and property. The document was published on the portal of legal information.
“To denounce the agreement between the government of the Russian Federation and the government of the Kingdom of the Netherlands on the avoidance of double taxation and the prevention of tax evasion with respect to taxes on income and property, signed in Moscow on December 16, 1996,” the law says.
In March 2020, Vladimir Putin ordered a 15% tax on income in the form of dividends and interest transferred to offshore accounts. The changes affected four countries. Cyprus, Malta, Luxembourg agreed to revise tax treaties. It was not possible to agree on a model for revising the agreement with the Netherlands.
For more details on the consideration of the law in the State Duma, see the article by Kommersant “The closure of Holland is approved by the State Duma.”