Russia Ratifies Tax Treaty with Belgium
The Convention between the Russian Federation and the Kingdom of Belgium on the avoidance of double taxation, as well as the protocol to it with respect to taxes on income, profit, the capital of organizations and individuals with residence or permanent residence, legal and natural persons having residence, permanent residence, or a place of management in one of the signatory countries.
The Convention provides that the taxation of income from entrepreneurial activities of a person of one state shall be made in another state if the person carries out activities in that other state through a permanent establishment situated within that state and only in that part that relates to this permanent mission.
Capital, which is represented by immovable property, owned by a resident of one state, and located in another state, may be taxed in that other state.
It should be noted that a similar agreement between the countries was concluded on 16.06.1995, but the parties came to a conclusion about the expediency of concluding a new agreement.
Russia's ratification was completed with the passage of Federal Law No. 115-FZ of 23.05.2018.
Translated by Alinga Consulting Group.
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