The Ukraine government has announced the signing of an amending protocol to the 2003 income and capital tax treaty with the United Arab Emirates on 14 February 2021. The protocol is the first to amend the treaty and includes updates to bring the treaty in line with the latest OECD model. In particular, the protocol:
- Increases the withholding tax rate on interest payments from 3% to 5%;
- Increases the withholding tax rate on "technical" royalties from 0% to 5%, which includes royalties paid f…