On October 30, 2019 Verkhovna Rada of Ukraine ratified the Protocol amending the Convention between the Government of the Republic of Cyprus and the Government of Ukraine for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income”.
Abovementioned Protocol significantly influences taxation of some types of business operational between residents of Ukraine and Cyprus. Of utmost importance are amendments in terms of taxation of dividends and capital gains.
Taxation of dividends – article 10 of the Convention: