Cyprus and Ukraine, during the negotiations of the Protocol, agreed to the amendment of the Cyprus - Ukraine Double Tax Agreement regarding the taxes imposed on income.
More specifically, the amended agreement ensures the adoption of more favourable taxation on the interests, dividends, rights and capital gains that has been agreed between Ukraine and any other Member State.
The clause that guarantees Cyprus will not be treated less favourably in relation to other competitive destinations in the business world is of outmost importance.
The achievement of this agreement is expected to contribute to the further development of the commercial and economic relations between Cyprus and Ukraine, as well as with other countries.
The agreed Protocol is expected to be signed and come into force on January 1st 2019.
