Russia has approved amendments to the deal on lifting double-taxation on income and property with Armenia and ordered the Russian Finance Ministry to sign the protocol, RIA Novosti reports on Tuesday.
According to the document of April 26, interest yields from commercial loans in state sources will have a levy set at 10%, excluding interest yields from authority structures and the central banks of Russia and Armenia.
Articles on support in taxation and exchange of information allow the two states to exchange information on any taxes and to support each other in collecting tax liabilities.
Dividends of Russian enterprises in Armenia and Armenian ones in Russia may be taxed by both states. However, if the collector has the right to dividends, the levy must not exceed 5% of the gross sum of dividends if a foreign resident invested $40,000 in the charter capital.
Amendments change the absolute figure for a relative limit of 25% for participation in the charter capital of an enterprise.
The inter-governmental agreement and a protocol were signed in Moscow on December 28, 1996.
