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Ukraine, UK signed protocol on amendments to Agreement on Double Taxation Avoidance
10.10.2017 10:14 "Agro Perspectiva" (Kyiv) —
As of yesterday, Ukrainian Minister of Finance Ukraine Oleksandr Danyliuk and State Secretary of Great Britain for Europe and America Alan Duncan, within their bilateral meeting in London, signed the Protocol on amendments to the Agreement on the Avoidance of Double Taxation between Ukraine and the United Kingdom, Government Portal reports.
As to the report, the Protocol is aimed to avoid double taxation of the incomes of private persons and legal entities generated on theterritory of both countries. To do this, taxation rights for different kinds of income will be distributed between Ukraine and Great Britain depending on their place of origin. Also, taxes paid by the respective party within the respective country will be taken into account when calculating due taxes for the same payer within the other country.
It is to be admitted, Ukraine and the United Kingdom still have to conduct the internal state procedures (necessary for the ratification of the Protocol).
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