Finance Minister Olexandr Danyliuk met with Minister of Finance of the Republic of Cyprus Harris Georgiades
May 10, in
the framework of the 26 annual meeting of the governors of the European Bank
for Reconstruction and Development (EBRD) Minister of Finance of Ukraine Olexandr
Danyliuk met with Minister of Finance of the Republic
of Cyprus Harris Georgiades.
At the
meeting the parties focused attention on the ratification of the Convention
between the Government of Ukraine and the Government of the Republic of Cyprus
on avoidance of double taxation and prevention of tax evasion. Harris Georgiades noted that Ukraine would have more benefits from
the Convention than the Republic of Cyprus, therefore,
the Verkhovna Rada of Ukraine should make maximum efforts for its ratification.
As co-heads
of the joint Ukrainian-Cypriot intergovernmental Commission on trade-economic
cooperation, the Ministers agreed to hold a meeting of the Commission in the
second half of this year, because since the last meeting there had accumulated
a lot of questions to be addressed at the bilateral level. Among them: the need
to increase trade volumes and investment flows, as well as to enhance
partnership in the banking and tourism sectors.
Apart from
that, the Ministers discussed the experience of Cyprus in reforming the tax
system, the ways to reduce the administrative burden on businesses and the progress
of reform of the State Fiscal Service of Ukraine.