The Ministry of Finance of Cyprus announced on 08 September 2015 the conclusion of the negotiations with Ukrainian Ministry of Finance. The two Contracting States agreed to a Protocol that will amend the Convention for the Avoidance of Double Taxation and the prevention of fiscal evasion with respect on taxes on income when it expire.
http://www.sflourentzos.com/conclusion-of-a-protocol-between-cyprus-and-ukraine-.html
In 2014, the share of Cyprus companies exceeded 30% of the total foreign direct investment in Ukraine. Following the recently imposed duty to disclose beneficial owners, the proposed denunciation of double tax treaty with Cyprus initiated by the Ukrainian government, and the improved Ukrainian transfer pricing rules, the question is whether it is still good to do business in Ukraine through Cyprus.
The principal motive of doing business in Ukraine through Cyprus has been always tax optimisati...
