Ukraine Approves for Ratification Double Taxation Agreement with Ireland
It was announced on 28 November 2013 that the Ukrainian Cabinet approved for ratification the Ukraine/Ireland double taxation agreement.
This follows on the signing of the agreement on 19 April 2013 in Kiev during a State visit by Irish Government Minister Brian Hayes.
At that meeting, Minister Hayes stated that the signing of the treaty "…will enhance economic and trade ties between our two countries."
It is understood that the Irish authorities should ratify the Ukraine/Ireland double tax agreement as part of the Irish Finance Bill (No.2) 2013 which is scheduled to be enacted before the end of 2013. Assuming that is the case, the Ukraine/Ireland double tax agreement should become effective on 1 January in the year following the exchange of the notification of ratification documents between both Cabinets.
Ireland is a European Union and OECD Member State and has a large network of international double taxation treaties. It offers a simple and transparent corporate tax system underpinned by a low rate of corporation tax of 12.5% and an excellent holding company regime utilised by many private and publicly listed companies worldwide. The new double taxation agreement will help Ukrainian businesses establish operations in Ireland in order to increase their access to customers and investors across the European Union and internationally.
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