The Central Bank of Russia (CBR) raised its key interest rate from 18% to 19% on 13 September 2024.
This decision is vital as the key interest rate is utilised for calculating interest deductions and late payment interest on overdue taxes in Russia.
The increase reflects ongoing inflationary pressures and aims to stabilise the economy amid fluctuating economic conditions.
Related Posts
The Central Bank of Russia (CBR) has extended the restrictions on cash withdrawals of foreign currency for another six months, until 9 March 2025. The decision follows due to current sanctions against Russia which prevent domestic financial
Read More
Lithuania’s President, Gitanas Nausėda, approved a draft law for terminating the 1999 tax treaty with Russia, which was submitted to the parliament for consideration on Monday, 16 September 2024. According to the treaty's stipulations, a
Read More
Russia's Federal Tax Service (FTS) has introduced new guidelines requiring detailed disclosure of the price formation chain in controlled transactions for transfer pricing purposes. According to Guidance Letter ZG-2-13/11134, issued on 2 August
Read More The Russian government approved draft laws for the ratification of pending income tax treaties with Abkhazia and Malaysia on 4 September 2024. Previously, Russia and Abkhazia took a step towards economic cooperation by signing an income tax
Read More
According to a recent report published in the OECD Economic Surveys on Malaysia for 2024 on 27 August 2024, the OECD recommended Malaysia reinstate the goods and services tax (GST) at a low rate, coupled with targeted social transfers for vulnerable
Read More
Romania’s government passed a memorandum to suspend the 1993 income and capital tax treaty with Russia on 14 August, 2024. This decision follows after the Russian Ministry of Foreign Affairs, in a press release on 15 March 2023, declared to
Read More
