Cyprus - Ukraine Double Tax Treaty

The protocol to the Cyprus – Ukrainian double tax treaty which was signed in 2015 was enacted into law by Ukraine on 30 October 2019 and shall have effect on 1st  January 2020.


The main provisions of the protocol are as follows: -


  • Dividends – a 5% withholding tax will be levied if the dividends are paid out to a foreign company which holds at least 20% of the share capital of the company paying the dividends and has invested at least €100.000 in the acquisition of the shares or other rights of the company. In all other cases the withholding tax will be 10%.
  • Interest – a 5% withholding tax will be levied on interest payments (currently 2%)
  • Capital gains – the gains derived by a resident of a contracting state from the alienation of shares or interest in the capital of a company which derives more than 50% of their value directly or indirectly from immovable property situated in that other contracting state, maybe taxed in that other contracting state with some exceptions. Any other share disposals are taxed in the state of the alienator provided they are subject to tax in that state.

Latest news

Extension to the filing date of tax returns

The following deadlines have been extended by the Cyprus government for the filing of tax returns by companies and individuals: The last date for the filing of an individual's tax return (IR1) for the year 2020 and settlement of any tax due will be 30 September 2021 without the imp...…

Published: Saturday 24 April, 2021

Extension for filing of corporate tax returns

On 12 March 2021 the Tax Department issued an announcement in relation to the extension of the deadlines for the submission of the 2019 corporate income tax return and the 2019 income tax return filed by individuals preparing audited Financial Statements. The above deadlines are extended to 30 Se...…

Published: Saturday 27 March, 2021

Interest and dividends – declarations through Taxisnet

There are new declarations on Taxisnet through which Special Defence Contributions and GESY should be recorded on the payment of interest and dividends. The printed forms 61AT and 61AM are now also available in electronic form and can be submitted through the Taxisnet as follows: …

Published: Wednesday 27 January, 2021