The United States has formally notified the Russian Federation that it’s suspending elements of an income tax treaty. This is in response to an Aug. 8, 2023, notice by Russia that it wished to suspend parts of the treaty. The suspension is expected to affect the tax obligations and costs of U.S. companies operating in Russia and Russian companies operating in the U.S. In addition, mobile employees may encounter tax compliance issues and the IRS may have trouble communicating with their Russian counterparts. The suspension is scheduled to go into effect Aug. 16, 2024. To read Announcement 2024-26: https://bit.ly/3VU25AO
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