The taxation of capital gains derived by foreign legal entities from the sale of Russian shares or financial instruments has been clarified by Russian Federal Law No. 132-FZ.

On 16th April 2009, the governments of Russia and of Cyprus initialed a Protocol to the existing Double Tax Treaty between the two countries.

Russia has an extensive network of double taxation avoidance agreements (DTTs) signed with over 80 countries. Key agreements are in force with Cyprus...

Law on the estate and gift tax was abolished in 2005 and has not been applied since 1 January 2006. However, it should be noted that property acquired as inheritance or gifts is an economic benefit for a person and is subject to personal income tax.