Russia and China signed a law on tax avoidance

Almaty. February 1. Silkroadnews - Russia and China signed a law on the avoidance of double taxation and the prevention of fiscal evasion with regard to taxes on income, the newspaper “People’s Daily” writes.
A protocol on introduction of amendments to the original version of the agreement has also been ratified.
The agreement was signed in October 2014 and the Protocol of Amendment - in May 2015. The signing of two documents was held in Moscow.
“The agreement shall promote the further development of mutually beneficial cooperation between the states and attraction of the mutual investments. The document suggests building the conditions under which the legal entities and individuals from Russia and China will not be a subject to double taxation in both countries for the same type of income. The Agreement and the Protocol shall apply to taxes imposed on total income or on elements of income of persons with domicile, residence, place of management or registration in Russia or China,” – says a memorandum to the law published on the Russian government’s website.
This agreement will enter into force at the beginning of the new fiscal period, i.e. as of
January 2017.