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

Russia clarifies taxation of foreign companies income from digital assets
Russia's Ministry of Finance has issued guidance letter No. 03-08-13/114723 on 14 March 2025 clarifying the taxation of foreign companies' income from digital financial assets. According to the letter, digital financial assets are defined as
Read More
Russia mandates transfer pricing method in controlled transaction notifications
Russia's Federal Tax Service (FTS) issued Letter No. ШЮ-4-13/2827@ on 13 March 2025 about the notification of controlled transactions. It clarifies that from 2024, taxpayers must disclose the transfer pricing method used to justify the market
Read More
Russia, Myanmar finalize talks on investment protection agreement
Myanmar and Russia issued a joint statement in Moscow announcing the conclusion of negotiations for an investment protection agreement (IPA) 4 March 2025. . Russia and Myanmar finalized the talks on a draft of agreement on encouragement and
Read More
Oman ratifies income tax treaty with Cyprus
The Sultan of Oman issued a Royal Decree No. (23/2025) announcing the ratification of the income tax treaty with Cyprus on 3 March 2025. The agreement was signed on behalf of the Government of Oman by Nasser Khamis Al Jashmi, Chairman of the Tax
Read More
Cyprus: Tax Reform Team announces tax reform measures
The Cyprus Tax Reform Team presented its tax proposals to key stakeholders at the Presidential Palace on 26 February 2025. The proposals will soon be open for public consultation before being submitted to the Council of Ministers for approval and
Read More
Russia keeps key interest rate at 21%
The Central Bank of Russia (CBR) announced its decision to keep the key rate at 21% on 14 February 2025. Earlier, CBR increased the key interest rate from 19% to 21%, on 25 October 2024. This is the highest key interest rate in Russia since
Read More