President Petro Poroshenko signed the law, stipulating the ratification of the convention with Malta on the avoidance of double taxation, according to the President’s press office of, Finance.UA reports.
“President Petro Poroshenko signed the law of Ukraine On Ratification of the Convention between the Government of Ukraine and the Government of the Republic of Malta on the Avoidance of Double Taxation and the Prevention of Income Tax Evasions and Its Protocol”, - according to the message.
The convention is aimed at the avoidance of the situation, during which the income is first taxed in the country, in which the income recipient is the resident, and then in the country, in which the income-generating activities are carried out.
The convention contributes to the avoidance of double taxation, the prevention of tax evasion and the mutual reduction of tax hurdles for foreign investors and trade.
It will apply to the persons, who are the residents of Malta and Ukraine.
The document sets the dividend rate of 15%, and the royalty – 10%.
On April 13, the Verkhovna Rada ratified the convention with Malta on the avoidance of double taxation.
