Ukraine's Ministry of Finance issued a release on 4 August 2023 announcing that the Cabinet of Ministers has approved a draft law for the termination of the 1996 tax treaty with Iran. The release also notes certain consequences of the termination, including that the domestic withholding tax rate of 15% will apply to payments to Iran, instead of the preferential treaty rate of 10% that applies for dividend, interest, and royalty payments. Further, losses to the Ukraine budget will be prevente…