KIEV, July 5 – Parliament has ratified a convention between the governments of Ukraine and Cyprus to avoid double taxation and prevent income tax evasion.

A total of 244 lawmakers supported the ratification of the document.

The convention was signed in Nicosia, Cyprus, on November 8, 2012.

The convention and the protocol are aimed at creating an effective bilateral legal framework to avoid double taxation and prevent income tax evasion in transactions between Ukraine and the Republic of Cyprus.