On March 14, 2017, the Verkhovna Rada of Ukraine ratified the Convention and relevant Protocol between the Government of Ukraine and the Government of the Grand Duchy of Luxembourg for the avoidance of double taxation and prevention of tax evasion regarding taxes on income and on capital.
Entry into force of the relevant documents will guarantee that the income earned from business activities in another country is not subject to double taxation. Moreover, entrepreneurs in one country will be imposed in another country under the same terms that apply in that state.
The EBA actively supported the signing of the Agreement and stressed the need for its timely ratification to create favourable conditions for investors of both countries. We thank the Ministry of Finance of Ukraine, the Government of Ukraine and the Parliament of Ukraine for their active stand on this issue. We will continue working together to strengthen business climate in Ukraine.