Government approved the draft Protocol amending the Agreement between Ukraine and Denmark
Cabinet of Ministers approved the draft Protocol amending the Convention between the Government of Ukraine and the Government of the Kingdom of Denmark on avoiding double taxation and preventing tax evasion regarding income and property taxes.
Purpose of the specified document is to amend the Convention and bring it into the line with Model Convention of the OECD.
Particularly, the document envisages:
- updating list of taxes to which the Convention applies;
- abolishing zero royalty rate in the country where it occurs;
- amending Article on the tax assistance in collection of taxes;
- expanding abilities for the tax authorities of Ukraine and Denmark to exchange tax information;
- supplementing the Convention with Article “Right to obtain benefits” which limits the improper application of the Convention’s preferential provisions.
