ON the sidelines of the annual International Monetary Fund meeting in
Washington, Switzerland’s Federal Councillor Eveline Widmer-Schlumpf and
Russia's Deputy Prime Minister and Finance Minister Alexei Kudrin signed a
memorandum on bilateral cooperation between the two countries on financial
matters.
According to the Swiss federal administration, a protocol to
amend the existing DTAA was signed at the same time. The revised DTAA also
contains provisions on the exchange of information in line with the
internationally applicable standards.
On the issue of revised DTAA, the
Swiss Administration has stated that besides the exchange of information,
Switzerland and Russia have agreed, in particular, that the zero rate will
generally be introduced for interest payments and that the tax on dividend
payments to pension funds and the central banks of both countries will be done
away with.
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