The Cabinet of Ministers proposed maintaining tax benefits for foreign businesses, which were previously subject to double taxation avoidance rules. The document, developed in pursuance of the President’s instructions to prevent the suspension of international treaties from negatively impacting the Russian economy, exempts from income tax (or establishes reduced tax rates) the income of foreign companies from activities that benefit Russia. In particular, it is proposed to exempt from income tax or establish preferential rates on income under interest agreements on the income of export credit agencies that provide support to suppliers in the exporting country.
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