The Convention and the Protocol to it guarantee the subjects of entrepreneurship from any of the Contractual States that their income obtained from performance of economic operations at the territory of other Contractual State, and/or dividends, interest and royalty received from sources at the territory of other 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.
A relevant Bill was registered under Reg. No.0146.