Mykola Tomenko, Deputy Chairman of the Verkhovna Rada of Ukraine, received a response to his appeal to Prime Minister of Ukraine Mykola Azarov regarding the issue of the outflow of capital through the Republic of Cyprus.
Thus, Mykola Tomenko, Deputy Chairman of The Verkhovna Rada of Ukraine, addressed Mykola Azarov, Prime Minister of Ukraine, with a request to settle the issue of illegal outflow of Ukrainian capital through the Republic of Cyprus. Mykola Tomenko reminded that the effective Agreement between the Government of the USSR and the Government of the Republic of Cyprus on Prevention of Double Taxation of Income and Property exempts any income transferred from one country to another from tax, except of certain cases of taxation of individuals or income of standing representative offices. The Deputy Chairman stated that the Government had submitted the bills on denunciation of this Agreement three times (the Government of Yu.Yekhanurov in 2006, and the Government of Yu.Tymoshenko in 2008). However, the factions of the Party of Regions, the Communist Party and the Lytvyn Bloc rejected the bills. Hence, Mykola Tomenko, Deputy Chairman of The Verkhovna Rada of Ukraine, addressed Mykola Azarov, Prime Minister of Ukraine, with a request to submit the governmental bill on denunciation of this agreement to the Parliament in the shortest terms.
The response received by the Deputy Chairman of the Verkhovna Rada of Ukraine informs about the resumption of the negotiations with Cyprus concerning conclusion of the Convention between the Government of Ukraine and Government of the Republic of Cyprus on Prevention of Double Taxation of Income and Income Tax Evasion. It is also planned to hold the next stage of bilateral consultations in Kyiv in November. Therefore, the Cabinet of Ministers deems it unreasonable to submit the bill on denunciation of the mentioned Agreement.