Russia has withdrawn its threat to cancel its double taxation agreement (DTA) with Cyprus, following the Nicosia government's agreement to a 15 per cent Russian withholding tax on dividend and interest income paid to shareholders in Cyprus. Certain regulated entities and bonds will be exempted, as will dividends from publicly traded companies. The protocol is expected to enter into force on 1 January 2021.
News Source：【Cyprus Mail 2020/08/10】