The list of countries with which Ukraine has double taxation treaties will be changed

On November 13, 2024, Draft Law No. 0293 " On Amendments to Article 1 of the Law of Ukraine "On Ratification of the Multilateral Convention for the Implementation of Tax Treaty Related Measures to Counteract Base Erosion and Profit Shifting" was registered on the website of the Verkhovna Rada of Ukraine.

The document proposes to update the list of Ukraine's notifications and reservations in connection with the entry into force or termination of a number of international treaties for the avoidance of double taxation, as well as the entry into force of protocols amending such treaties.

In particular, it is proposed to exclude the provisions on the extension of the Convention to agreements on the avoidance of double taxation and the prevention of tax evasion with Belarus, Cuba, Syria, and the Russian Federation. The previous agreement concluded with Malaysia is also excluded.

As stated in the explanatory note, Cuba is excluded because the Cuban party has not yet completed the relevant domestic procedures for the entry into force of this Convention.

Also, the relevant agreements with Austria, Denmark, the Netherlands, the United Kingdom and Northern Ireland, Switzerland, Singapore, the United Arab Emirates, and a new agreement with Malaysia have entered into force.

It is also proposed to make changes in connection with the entry into force of agreements between Ukraine and Qatar for the avoidance of double taxation and the prevention of tax evasion.

If adopted, the Law will enter into force on the day following the taxation day.