Polymetal to Remain in Cyprus Regardless of Tax Treaty Talks

Polymetal will remain in Cyprus regardless of the result of talks between Russia and Cyprus on a new tax treaty, CFO Maxim Nazimok said in interview by video link.

• Cyprus jurisdiction gives other advantages on top of tax benefits
  • So far there is no draft of the amended treaty publicly available, but “judging from what was said in the media we are cautiously optimistic”
  • “As we understand, the treaty won’t be withdrawn, which is already good”
  • “There is preliminary information that some exemptions could be made for public companies, so there is a chance to keep 5% dividend tax”
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