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ARTICLE · 29 JANUARY 2016

Protocol To Double Tax Agreement Between Cyprus And Ukraine Signed

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An announcement on the website of the Ukrainian Ministry of Finance provides more details of the protocol's amendments.

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Introduction

The Ministry of Finance has announced that the protocol to the double tax agreement between Cyprus and Ukraine, which was agreed in September 2015, was formally signed on December 11 2015 (for further information please see "Protocol amending double tax agreement between Cyprus and Ukraine agreed"). The existing double tax agreement entered into force on January 1 2014. The protocol, when formally ratified by both countries, will enter into force no earlier than January 1 2019.

According to the Ministry of Finance's announcement, a 'most favoured nation' clause has been agreed for taxes on interest, dividends, royalties and capital gains, ensuring that Cyprus is treated no less favourably than any of Ukraine's other double tax agreement counterparties.

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