The most salient topic of today’s agenda is related to the approval of the Russian government of the law of denunciation of the Russian-Dutch tax treaty which has been recently submitted to the Russian State Duma.
Despite the effort of the European business in Russia and the Russian business community to influence the decision of the Russian Ministry of Finance to continue negotiations of treaty, it has been denied.
Next to it, as soon as the the statement will be approved by the Russian Duma, the Federation Counsel and the President, respectively, a notice of termination will be presented to the Netherlands.
However, the there is possibility for a process to be delayed or terminated by the Russian parliament. Though, there is a very little chance that this law won’t be approved. If submitted before July 1st 2021, the treaty can be terminated from January 1st, 2022. Therefore, it is the right time to think about the consequences of the termination and be prepared for the possibility of termination.