OREANDA-NEWS. December 02, 2013. During a session of the Government there was approved a draft Law of Ukraine “On ratification of the Convention between the Government of Ukraine and Government of Ireland on avoiding of double taxation and prevention of tax evasion concerning income tax and incomes from property alienation and the Protocol to it”. With this aim a respective order was approved by the Cabinet of Ministers concerning submission for ratification by the Verkhovna Rada of Ukraine of the mentioned Convention and the Protocol to it.

In turn the endorsed bill approves completion of internal state procedures necessary for coming in effect of the Convention and the Protocol to it.

The abovementioned Convention is aimed at avoiding of double taxation of incomes of physical and juridical persons which appear on the territories of the two countries.

Apart from that the Convention is directed also to:

-       prevention of evasion from payment taxes;
-       removal of tax discrimination;
-       creating of mechanisms of improvement cooperation between tax bodies of Ukraine and Ireland by means of introduction of procedures of mutual coordination of disputes;
-       ensuring exchange of tax information.