Chamber chief urges revival of double taxation pact to boost US-Russia economic ties

Robert Agee, President of the US Chamber of Commerce in Russia, has called for the renewal of the double taxation avoidance agreement between Moscow and Washington.

Speaking on the sidelines of the St. Petersburg International Economic Forum (SPIEF), Agee emphasized the urgency of revisiting and reinstating the accord, which was previously cancelled amid geopolitical tensions, Caliber.Az reports, citing Russian media.

“This topic—the double taxation avoidance agreement—is particularly important now,” Agee remarked. “We cancelled it, the reasons were clear at the time. But especially now, when we hope to improve relations between the US and Russia, which we are constantly working on, I think it should be a priority.”

He expressed optimism that the Russian Ministry of Finance would support efforts to restart the agreement, highlighting its critical role in fostering bilateral economic cooperation and reducing fiscal barriers for businesses operating across both countries.

The double taxation avoidance agreement serves to prevent companies and individuals from being taxed twice on the same income, facilitating smoother trade and investment flows.

By Vafa Guliyeva