The Cabinet of Ministers of Ukraine proposes the Verkhovna Rada to denunciate the agreement with Cyprus for avoidance of double taxation, Prime-Minister Arseny Yatseniuk said at the government meeting, RBK-Ukraine (РБК-Україна) reports.
The Prime-Minister noted that Ukraine will conduct talks with Cyprus about conclusion of a new agreement.
“This is a draft law of Ukraine on denunciation of the convention between the government of Ukraine and Cyprus. The convention was signed to protect the richest. The document envisages a tax rate of zero for sale of any property. Taxes have been paid neither in Ukraine, nor in Cyprus”, - said Yatseniuk.
In his opinion, the Cabinet of Ministers works out a draft law to be considered by the parliament.
“The point at issue is that taxes in Ukraine will be the same as in the EU countries. The purpose is to cancel a zero rate for sale/purchase of any property, shares and other assets not taxable due to refusal of the parliamentarians. According to different estimates, total losses make up some 6 billion hryvnias a year”, - said Yatseniuk.
