On 19 May 2021, Ukraine's Cabinet of Ministers approved for ratification the amending protocol to the 2003 income and capital tax treaty with the United Arab Emirates. The protocol, signed 14 February 2021, is the first to amend the treaty and will enter into force after the ratification instruments are exchanged. As announced at the time of signing, the protocol includes updates to bring the treaty in line with the latest OECD model, as well as increases in the withholding tax rates on inte…