Taxation

Russian Federation and the Grand Duchy of Luxembourg have changed the double taxation rules

Recently Russian Federation and the Grand Duchy of Luxembourg have signed protocol regarding the amendments in the double taxation rules. This Protocol was negotiated following a request from the Russian Federation due to a change in its conventional policy regarding withholding taxes on dividends and interest.

The Russia-Malta double taxation treaty was amended. What's new?

In March 2020, Vladimir Putin, the president of the Russian Federation, addressed the nation to announce the main measures being taken to tackle coronavirus. As part of that, Vladimir Putin instructed the government to quickly initiate negotiations with foreign jurisdictions to amend Russia’s current DTTs to set the minimum withholding tax rate on dividends and interest paid from Russia at 15%.
 

Tax deductions in Switzerland

The calculation of the tax rates in Switzerland is based on the net income of the taxpayer. Like in most other European countries, there are several tax deductions that can be made when a tax declaration is filed in Switzerland. These will reduce the taxable income and consequently the value of tax that needs to be paid diminishes significantly.

 

2019 Federal Act on Tax Reform and AHV Financing—What’s New?

On the 19th of May 2019, Swiss voters voted in favour of the Federal Act on Tax Reform and AHV Financing (TRAF)—confirming the corporate taxation reform. The main purpose of the reform is to bring tax legislation in line with international standards and to remove Switzerland from the EU “Grey List”, which it has been in since December 2017. This list includes states that are under EU control and have agreed to cooperate to improve the tax system.