During the Annual Meetings of the IMF and the World Bank, the Convention between the Government of Ukraine and the Government of Australia for the Elimination of Double Taxation with Respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance was signed. The document was signed by the Minister of Finance of Ukraine Serhiy Marchenko and the Head of the Australian Treasury Jim Chalmers.
According to the press service of the Ministry of Finance, the conclusion of the Convention is an important step in the development of economic relations between Ukraine and Australia. It establishes clear and fair rules so that the income of residents of both countries is not taxed twice.Once in force, the Convention will facilitate the attraction of Australian investments in Ukraine, reduce financial barriers and make tax procedures simpler and more predictable.For businesses and citizens, this means protection from double taxation, more transparent rules and favorable conditions for trade and investment.
