New Double Tax Treaty Between Ukraine and Cyprus
On 8 November 2012, during the visit of the President of Ukraine Viktor Yanukovych to the Republic of Cyprus, a new Double Tax Treaty between Ukraine and Cyprus (hereinafter, the “DTT”) was signed. The new DTT will replace the old treaty, which was signed between USSR and Cyprus. Provisions of the new DTT will enter into force starting from 1 January of a year following the year of the DTT ratification by the signing parties.
Please see attached a brief summary of novelties of the new DTT as well as their potential influence on Ukrainian companies.