On 10 May 2018, the Russian State Duma (lower house of parliament) approved for ratification the pending income and capital tax treaty with Belgium (previous coverage). The treaty, signed 19 May 2015, will enter into force once the ratification instruments are exchanged and will 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. Article 13 (Capital Gains) of the new treaty has also been amended by a protocol signed 30 January 2018 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 (previous coverage).
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