Kyiv and London agreed on taxation

Киев и Лондон договорились по налогообложению

Danyluk signed with Britain the Protocol on the double nalogoblozheniya

The new Protocol will help to reduce the tax burden on citizens.

Ukraine and the United Kingdom made changes to the agreement for avoiding double taxation. The corresponding Protocol was signed by the Minister of Finance of Ukraine Alexander danyluk and state Minister for European Affairs and America Alan Duncan, announced on Monday, October 9, the press service of the Ministry of Finance.

The conclusion of the Protocol allows to avoid tax evasion and at the same time reduce the pressure on law abiding taxpayers, and to ensure exchange of tax information.

The Protocol provides for the taxation of dividends with a rate of 5% if the beneficial owner of the dividends is a company with at least 20% of the capital of the company which pays the dividends. For other cases, the rate increased from 10% to 15%.

The document also notes that the parties agreed to increase the size of the tax rates in percent, from 0% to 5% net royalties – 0% to 5%, said the Ministry of Finance.

As reported, in 2015, Ukraine and Cyprus signed a new intergovernmental agreement on avoidance of double taxation.