Convention between Turkmenistan and Ukraine for the avoidance of double taxation dated 29 January 1998 entered into force on 21 October 1999 (ratified by the Law of Ukraine # 506 dated 17 March 1999).
Article 10 (Dividends):
Paragraph 2. Dividends may be taxed in the Contracting State of which the company paying the dividends is a resident and according to the laws of that State, but if the recipient is the beneficial owner of the dividends the tax so charged shall not exceed 10 % of the gross amount of the dividends.
Article 11 (Interest):
Paragraph 2. Interest may be taxed in the Contracting State in which it arises and according to the laws of that State, but if the recipient is the beneficial owner of the interest, the tax so charged shall not exceed 10 % of the gross amount of the interest.
Paragraph 3. Notwithstanding the provisions of paragraph 2, interest arising:
a) in Turkmenistan and paid to the Government of Ukraine or the National Bank of Ukraine shall be exempt from Turkmenistan's tax
b) in Ukraine and paid to the Government of Turkmenistan or the Central Bank of Turkmenistan shall be exempt from Ukraine's tax.
Article 12 (Royalties):
Paragraph 2. Royalties may be taxed in the Contracting State in which they arise, and according to the laws of that State, but if the recipient is the beneficial owner of the royalties the tax so charged shall not exceed 10 % of the gross amount of the royalties.
