Convention between India and Ukraine for the avoidance of double taxation dated 7 April 1999 entered into force on 31 October 2001 (ratified by the Law of Ukraine # 2737 dated 20 September 2001).
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:
(a) 10 % of the gross amount of the dividends if the beneficial owner is a company (other than a partnership), and this company holds at least 25 % of the shares of the company paying the dividends;
(b) 15 % of the gross amount of the dividends in all other cases.
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 8. Notwithstanding the provisions of paragraph 2.
(a) interest arising in a Contracting State shall be exempt from tax in that State if the beneficial owner is the Government, political-administrative subdivision, or local authority of the other Contracting State; or the Central Bank of the other Contracting State.
(b) interest that arises in a Contracting State shall be exempt from tax in that State to the extend that is established by the Government of that State, if the beneficial owner is any person (other than that one mentioned in subparagraph (a) which is the resident of the other Contracting State on condition that the commercial transaction as a result of which debt claim arose was approved in relation to that by the Government of the first mentioned Contracting State.
Article 12 (Royalties):
Paragraph 2. Royalties and fees for technical services 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 and fees for technical services, the tax so charged shall not exceed 10% of the gross amount of the royalties or fees for technical services.
