The suspension of the tax treaty is one of several measures Russia has taken in response to sanctions imposed by the West.
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They should also consult a tax advisor to understand how the suspension will affect them.
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Businesses and individuals with an interest in Russia should carefully consider the implications of the suspension of the tax treaty before making any decisions.
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It is unclear how long the tax treaties will remain suspended, or whether they will be reinstated in the future.
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The move is likely to have a significant impact on the Russian economy, and could also damage relations with the West.
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By suspending the treaties, Russia is effectively increasing the tax burden on businesses and individuals from these countries.
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Tax treaties provide many benefits for businesses and individuals, such as reducing taxes on dividend and interest payments.
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This could make it more difficult and expensive to operate businesses in Russia, and could also lead to higher taxes for Russian citizens holding assets in 'unfriendly' countries.
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The move is seen as retaliation for sanctions imposed on Russia by the West in response to its invasion of Ukraine.
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Russian President Vladimir Putin has suspended tax treaties with 'unfriendly' countries, including the United States, which could have a major impact on businesses and individuals.