The Ministry of Finance of the Russian Federation has removed Cyprus from the ‘Black List’ that applies for the purpose of certain tax provisions and it effects from 1 January 2013. Dividends paid from Cyprus companies to Russian companies will be exempt from taxation in Russia (subject to the normal holding conditions), benefiting from the Russian participation exemption. The participation exemption does not apply to dividends from countries on the Black List and was previously not available in respect of dividends from companies in Cyprus. The transactions of Russian companies with Cyprus companies will not be subject to the burdensome transfer pricing provisions for countries on the Black List. The standard transfer pricing regulations will however continue to apply.
«
Israel: Budget for the FY 2013-2014
Related Posts

UAE: Cabinet of Ministers approves tax treaty with Russia
The UAE Cabinet of Ministers approved the income and capital tax treaty with Russia on 14 April 2025. Earlier, representatives from Russia and the UAE have signed a new income and capital tax treaty on 17 February 2025 . The treaty will come
Read More
Cyprus issues VAT rules for unredeemed expired vouchers
The Cyprus tax department issued Circular 3/2025 on 8 April 2025 to clarify value added tax (VAT) rules for unredeemed expired vouchers. The Circular focuses on single-purpose and multi-purpose vouchers. Single-purpose vouchers: VAT on
Read More
Netherlands: Council of Ministers approve tax treaty between Curacao and Cyprus
The Netherlands Council of Ministers has authorised the Minister of Foreign Affairs to sign an income tax treaty with Cyprus on behalf of Curacao on 4 April 2025. The DTA seeks to eliminate double taxation on income and prevent tax evasion or
Read More
Russia: FTS clarifies rules on reduced VAT rates and exemption criteria
The Federal Tax Service (FTS) of Russia has issued a reminder on the proper application of reduced VAT rates of 5% and 7%. This announcement was made by FTS on 17 March 2025. Organizations and entrepreneurs must apply these rates consecutively
Read More
Russia: MoF clarifies corporate income tax exemptions for share redemptions and funds from companies
The Russian Ministry of Finance (MoF) has clarified the corporate income tax treatment for two scenarios in Guidance Letter No. 03-03-06/2/18948, issued on 17 March 2025. The first scenario involves share redemption in a foreign entity, while the
Read More
Cyprus offers VAT exemption to rental property owners
Cyprus’ Commissioner of Taxation published Circular 2/2025 on 24 March 2025, outlining guidelines for rental property owners who haven't opted to exempt their property from VAT. The circular is valid until 31 December 2025. In Cyprus, renting
Read More