Russia May Ask Switzerland, Hong Kong To Review Tax Agreements - Deputy Prime Minister

Russia may send Switzerland and Hong Kong proposals on the review of double taxation agreements, Deputy Prime Minister Aleksey Overchuk said Tuesday

MOSCOW (UrduPoint News / Sputnik - 11th August, 2020) Russia may send Switzerland and Hong Kong proposals on the review of double taxation agreements, Deputy Prime Minister Aleksey Overchuk said Tuesday.

"We are carefully analyzing all the agreements on avoiding double taxation that Russia has with other countries.

At the moment, we are studying Switzerland and Hong Kong and considering whether to send them relevant proposals," the deputy prime minister said at a meeting with President Vladimir Putin.

Putin said he had spoken to the president of Cyprus who was understanding about Russia's plan to review the tax agreement with his country.

"The only thing that was of concern to my colleague ... is for these flows not to go to some other place. We are not interested in this. We are interested not in sending these money to some other countries but in keeping the funds. Either taxed fairly or invested in the development," Putin said.