: :inin Kyiv (EET)

Ukraine, Malaysia agree to abolish double taxation


Ukraine and Malaysia have signed an agreement to avoid double taxation, according to the Ukrainian Presidential Administration`s press service.

The document was signed by Minister of Foreign Affairs of Ukraine Pavlo Klimkin and Malaysian Deputy Minister of Finance Johari bin Abdul Ghani in the presence of Ukrainian President Petro Poroshenko and Malaysian Prime Minister Najib Razak in Kuala Lumpur.

The agreement shall apply to taxes on income imposed on behalf of the state and its administrative and territorial units and local authorities, irrespective of the manner in which they are levied. The provisions of the document determine the conditions to avoid double taxation in Ukraine and Malaysia, the order of taxation of dividends, interest, royalties, income from transfer of property and the like.

It also determines individual conditions for taxation of pensions, salaries of civil servants, artists, athletes, and students.

Further, an agreement was signed between Ukraine and the government of Malaysia on mutual legal assistance in criminal matters. The document was signed by Ukrainian Foreign Minister Pavlo Klimkin and Attorney General of Malaysia Mohamed Apandi Ali.

”The document regulates the process of cooperation of courts and other competent authorities of the two states in criminal investigations and confiscation of proceeds of crime. The conclusion of the agreement will create conditions for effective cooperation between courts, prosecutors and other competent agencies of the signatories to prevent and investigate crimes and to implement measures for the confiscation of revenues obtained by criminal means,” the press service stated.

In addition, Klimkin and Malaysian Minister of Internal Affairs Ahmad Zahid Hamidi signed an agreement between Ukraine and the government of Malaysia on extradition. The document defines the procedure for international cooperation on extradition of criminals for making them liable or for enforcing their sentence.

”The conclusion of the agreement will create conditions for effective cooperation of the competent authorities of the countries in dealing with extradition matters, with the purpose of criminal prosecution or enforcement of a court judgment in respect of persons who are trying to evade responsibility for the crimes committed and reside in the territory of one of the signatories,” the press service said.

As UNIAN reported earlier, President Poroshenko on August 3 began an official visit to Malaysia, which will end on August 5.

UaPositon

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