The Convention guarantees that the profits gained by the subjects of entrepreneurship of any of the Contractual States from the economic operations at the territory of another Contractual State, and/or dividends, interest and royalty obtained from the sources in another Contractual State are not liable to double taxation.
The Convention guarantees that the subjects of entrepreneurship of any of the Contractual States shall not be discriminated in taxation at the territory of another Contractual State. It also envisages efficient methods to prevent tax evasion.
Ratification of the Convention will extend economic cooperation between the countries and facilitate mutual lifting of tax obstacles for the foreign investments and trade.
The Ministry of Finance of Ukraine and the State Tax Administration shall be the subjects of Convention implementation.
A relevant Bill was registered under Reg. No.0148.