The US Treasury Department announced that the US and Russia have agreed to suspend the Russia Income Tax Treaty. This treaty, which has been in place since 1993, will be terminated on January 1, 2024. This decision was made in response to concerns about Russia's tax policies and its use of the treaty to avoid paying taxes on certain income.
The U.S. Treasury Department yesterday announced that the United States has provided formal notice to Russia to confirm suspension of the operation of Paragraph 4 of Article 1 and Articles 5-21 and 23 of the United States-Russia income tax treaty, as well as the operation of its accompanying protocol, by mutual agreement.
The suspension will take effect both for taxes withheld at source and in respect of other taxes on August 16, 2024, and will continue until otherwise decided by the two governments.
The IRS on June 21, 2024, released Announcement 2024-26 providing notice of the partial suspension of the United States-Russia income tax treaty.
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