Ukraine And Brazil Sign Double Tax Treaty

by Ulrika Lomas, Tax-News.com, Brussels

17 January 2002

Ukraine and Brazil signed nine bilateral agreements yesterday, including a double tax agreement, and a mutual assistance treaty, after Brazilian President Fernando Henrique Cardoso arrived on a state visit.

Nine documents were signed in total, including a declaration on deepening friendship and cooperation between Ukraine and Brazil and an agreement between the governments of Ukraine and Brazil on protecting the know-how concerning launches from the Brazilian Alcantara space centre.

The National Space Agency of Ukraine and the Brazilian space agency signed a memorandum on cooperation involving the use of Ukrainian booster rockets at the Alcantara space centre. The memorandum lays down the principles of bilateral cooperation in creating a joint space services company.

The governments of Ukraine and Brazil signed a protocol on cooperation in oil and gas output. The protocol regulates the principles of cooperation in joint prospecting and production of oil and gas on the Black and Azov sea shelf using the technology of the Brazilian national oil and gas company, Petrobras.

A further agreement and protocol on cooperation in power engineering creates a legal framework for the implementation of specific cooperation projects, such as involving Ukraine's industrial companies in fulfilling government orders under the national emergency programme for the development of the Brazilian energy industry.

Ukreximbank and the Brazilian National Bank of Economic and Social Development signed a memorandum of understanding providing for the financial safeguards of export and import transactions between the two countries.

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