19 Jul 2023 14:16

Denmark notifies Russia about denunciation of convention on avoidance of double taxation as of 2024 - Finance Ministry

MOSCOW. July 19 (Interfax) - The convention between the governments of the Russian Federation and Denmark, on the avoidance of double taxation and the prevention of tax evasion regarding income tax and property tax, ceases to be in effect as of January 1, 2024, Russia's Finance Ministry said in informational materials.

In a note dated June 19, Denmark officially notified the Russian Federation of the denunciation of the convention, dated February 8, 1996, in accordance with the provisions of article 29 of the agreement.

In accordance with Denmark's note, the convention ceases to be in effect as of January 1, 2024, namely regarding taxes levied at the source on income received beginning on January 1, 2024; and regarding other income tax and property tax levied in any tax year beginning on or after January 1, 2024.