President of Ukraine Volodymyr Zelensky has signed the law “On ratification of a protocol amending the Convention between the governments of Ukraine and Cyprus on avoidance of double taxation and preventing tax evasion.”
The corresponding document was returned with president’s signature on November 15, according to the report on the Verkhovna Rada’s website.
As the explanatory note says, the need to conclude a protocol is explained by the fact that during the negotiations with the Cyprus, were agreed amendments needed to be made to the Convention between the Government of Ukraine and the Government of the Republic of Cyprus on avoiding double taxation and preventing tax evasion regarding income taxes.
Convention on the avoidance of double taxation of Ukraine with Cyprus and the protocol were signed on November 8, 2012 in Nicosia and ratified by the parliament in July 2013.
Thus, the entrepreneurs of both countries received guarantees that profits from entrepreneurial activities in the territory of another country, as well as dividends, interest and royalties, are not subject to double taxation.
On December 11, 2015, the governments of Ukraine and Cyprus signed a protocol amending the Convention between the Government of Ukraine and the Government of Cyprus on the avoidance of double taxation and the prevention of tax evasion on income taxes.
As The Journalist reported, Ukraine, US sign protocol on defense cooperation.
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