On 28 February 2022, the Russian Central Bank has announced the decision to increase the key rate from 9.50% to 20%. The measure was taken in response to the Russian invasion of Ukraine, followed by harsh sanctions and the collapse of the Russian ruble. The key interest rate is used for the purposes of calculating interest deduction and late payment interest on overdue taxes
«
OECD: Building an Investment Tax Incentives Database
Related Posts
France clarifies tax treaty suspension with Russia
The French General Directorate of Public Finances published a guidance, on 23 October 2024, for the application of the France and Russia income tax treaty following the suspension of several provisions of the agreement. Despite the suspension,
Read MoreRussia: Upper House approves tax treaty with Abkhazia
The Russian Federation Council, upper house of parliament, approved the law for the ratification of the pending income tax treaties with Abkhazia on 23 October 2024. The treaty with Abkhazia, signed on 7 May 2024, is the first between the two
Read MoreRussia: Central Bank raises record high key interest rate
The Central Bank of Russia (CBR) has increased the key interest rate from 19% to 21%, on Friday, 25 October 2024. The initiative is an effort to combat growing inflation as government spending on military strains the economy’s capacity to
Read MoreSweden moves to suspend income tax treaty with Russia
The Swedish government has presented a bill, the Repeal Act, to the Parliament with the intention to annul Act (1993:1301) concerning the Income and Capital Tax Treaty between Russia and Sweden on 24 October 2024. Earlier, Russia suspended
Read MoreRussia: Lower house of parliament approves ratification of tax treaty with Malaysia
The Russian State Duma (lower house of parliament) approved the draft law for the ratification of the income tax treaty with Malaysia on 22 October 2024. Earlier, the two nations signed a new income tax treaty on 17 May 2024. This agreement
Read MoreLithuania terminates tax treaty with Russia
Lithuania has terminated its tax treaty with Russia on 11 October 2024, published Law No. XIV-2991 in the Official Gazette. Earlier, Lithuania’s President, Gitanas Nausėda, approved a draft law for terminating the 1999 tax treaty with Russia,
Read More