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Double Tax Treaty between the Republic of Cyprus and the Government of Russian Federation
Last Update: January, 2017

Suspension of the opportunity of any of the contracting States, where the taxpayer has its tax residency, to impose taxation on gains derived from the alienation of shares or similar rights deriving more than 50% of their value from immovable property situated in the other Contracting State: According to a recent (29/12/2016) announcement of the Ministry of Finance, the Contracting States agreed to the suspension of the opportunity of any of the Contracting States, where the taxpayer has its tax residency, to impose taxation on gains derived from the alienation of shares or similar rights deriving more than 50% of their value from immovable property situated in the other Contracting State, which will be effected through the amendment of article 13 of the Double Tax Treaty in question (as already amended pursuant to Protocol dated 07/10/2010). To that end, a supplementary Protocol providing for the aforesaid suspension until the introduction of similar provisions in other Double Tax Treaties with other European countries as well, is going to be prepared and ratified.

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Publish Date: 03 January, 2017
Antria Aristodimou Antria is an Advocate – Legal Consultant. Antria was born in Limassol. She obtained her LL.B degree from the University of Cyprus in June 2013 and her LL.M in Maritime Law from the University of Southampton in December 2014. Antria joined our firm in July 2014 ...

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