The Verkhovna Rada of Ukraine approved the amendments to the double taxation avoidance agreement with Turkey by adopting Bill No. 0005.
Previously, the parties agreed on the necessity to amend Articles 2-4, 8, 10-12, 15, 26 and 26A of the double taxation avoidance agreement and to prevent tax evasion regarding income and property taxes.
Such changes include, inter alia, clarifications: definitions of the terms "resident of a Contracting State", "dividends", "royalties"; the procedure of profits taxation derived by an enterprise of a Contracting State from the utilization of sea, river, aircraft, road or rail transport in international traffic; the procedure of the income taxation derived by a resident of a Contracting State from the alienation of shares or other rights; the procedure of remuneration taxation received in connection with wagework carried out on board of ship, boat, aircraft, road or rail vehicle operated by an enterprise of a Contracting State; provisions for the elimination of double taxation; process of the information exchange, etc.
As we reported earlier, Ukraine and Turkey signed a number of agreements on October 9, 2017, including a protocol of double taxation avoidance agreement emendation.
