Russia sets Chinese Lenders free from Double Taxation

It will help to reorient Russian lenders on Asian markets.

19.Mar.15 4:08 PM
By Anna Nekrasova
Photo doomsteaddiner.net

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Russia sets Chinese Lenders free from Double Taxation

Russian government is planning to set Chinese lenders free from double taxation. Necessary project of amendments in existing agreement between Russia and China has already been prepared and approved. At the same time it has also been published on the official website of Russian government.

It is also known that earlier percentage income which was received by Chinese lenders in Russia could be taxed also in China. Now they will only have to pay taxes for their percentage income only in their native country no matter if it was received in Russia or not. The same thing is with Russian lenders. They will not be taxed in China.

Cabinet of Ministers representatives are sure that such measures will make it easier for Russian lenders to reorient on Asian markets. At the same time it will help to reduce costs necessary for attraction and servicing of credits.

It should be noted that changes in agreement between Russia and China were prepared in autumn. They were discussed together with Vice Prime Minister of Russian federation Igor Shuvalov.

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