On 30 May 2018, the Russian government approved the pending protocol to the new tax treaty with Belgium, which was signed 19 May 2015 but has not yet entered into force (previous coverage). The protocol, signed 30 January 2018, amends Article 13 (Capital Gains) to provide that gains from the alienation of shares or similar rights in a company deriving more than 50% of their value directly or indirectly from immovable property situated in a Contracting State may be taxed by that State, with certain exceptions for restructuring, listed shares, etc.
The new treaty itself has already been ratified by Russia and will enter into force once the ratification instruments are exchanged and apply from 1 January of the year following its entry into force. Once in force and effective, it will replace the 1995 tax treaty between the two countries.
We’re here to answer any questions you have about the Orbitax products and services.
We’re committed to providing high value, low cost tax research and management solutions.
Our Twitter account is where you can find latest information, news updates, offers and lots more.