Ukraine’s finance minister Yuri Kolobov and Czech ambassador Ivan Po?uch have signed bilateral double taxation agreement (DTA) for the avoidance of tax evasion.

The protocol to the intergovernmental treaty will mainly target on avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and property taxes.

Additionally, the protocol contains amendments to text on taxation and information exchange, including renaming of taxes, subjected to the treaty; amendments to the text of the treaty in force about articles on permanent delegation, pensions, double taxation and discrimination.

The protocol also relieves from taxation of interest rates for receivers and economic owners of governments of the contracting states such as national banks of Ukraine and Czech Republic, Sberbank and Ukrexsimbank of Ukraine and Czech Export Bank and Export Insurance Company of Czech Republic.