Interfax news agency has reported that on 5 July the Ukrainian parliament ratified the new double taxation agreement between Ukraine and Cyprus, which was signed in Nicosia on 8 November 2012.

The new agreement will replace the current double taxation agreement dated 29 October 1982 between the USSR and Cyprus, which Ukraine adopted on independence.

The law ratifying the agreement had failed to secure the necessary majority in the Ukrainian parliament at the first attempt on 18 June, but it has now been passed by a clear majority.

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