Ukraine has approved an agreement with the UAE to avoid double taxation-UKRINFORM.UA

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The Verkhovna Rada ratified the Protocol between the Governments of Ukraine and the United Arab Emirates amending the agreement between the two countries on the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital.

According to Ukrinform, this was reported by the press service of the Ministry of Finance.

The main provisions of the Protocol provide for an increase in the interest rate in the country that is the source of income from 3% to 5%, as well as an increase in the tax rate on “technical” royalties from 0% to 5% in the country that is the source of income.

In addition, the agreement includes a new version of the article on information exchange, which provides for a significant increase in the capacity of the competent authorities of the two countries to exchange tax information, and a new article “Right to benefits”, which limits the application of preferential provisions of the agreement. benefits

The Ministry of Finance noted that the changes and rates are in line with the general practice of concluding such agreements and protocols to Ukraine with other countries.

Sep 9, 2021

DATA SNAPSHOT