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Luc Frieden signs updated double-taxation agreement with Russia
Economics

Luc Frieden signs updated double-taxation agreement with Russia

14.03.2012 From our online archive
Luxembourg’s Finance Minister Luc Frieden was in Moscow on Monday to sign an amendment to the convention agreements between Luxembourg and Russia aimed at avoiding double taxation and the prevention and fiscal evasion.

(ADW) Luxembourg’s Finance Minister Luc Frieden was in Moscow on Monday to sign an amendment to the convention agreements between Luxembourg and Russia aimed at avoiding double taxation and the prevention of fiscal evasion with respect to taxes on income and capital. The original agreement dates back to 28 June 1993.

The amendment follows on from Luxembourg’s efforts to improve treaty provisions regarding economic interests, in particular focusing on dividend taxation which now changes from 10% to 5%.

Although the final signing took place on Monday, the political agreement was actually reached at a meeting in Sochi in August 2010 between the Prime Minister, Jean-Claude Juncker and President of the Russian Federation, Dmitry Medvedev, a meeting that Luc Frieden also participated in.