Rada ratifies amendments to convention between Ukraine, Switzerland for avoidance of double taxation
Ukraine's Verkhovna Rada has ratified a Protocol on Amendments to the Convention between the Government of Ukraine and the Swiss Confederation for avoidance of double taxation with respect to taxes on income and capital.
An Interfax-Ukraine correspondent has reported that a total of 307 MPs backed bill No. 0004 on ratification of the amendments on Wednesday.
According to the conclusion of the foreign policy committee, the changes relate, in particular, to an increase in the rate of taxation of interest and royalties; a new article on improving the procedure for mutual coordination between the authorized bodies of Ukraine and Switzerland regarding the correct application of the provisions of the international treaty.
According to the information of the committee, the amendments to the convention suggest a new version of the article on the exchange of information, which provides for a significant expansion of the parties' capabilities in the matter of tax information exchange.
The amendments also concern the rule of applying the right to benefits.