Ukraine's Ministry of Finance issued a release on 29 April 2022 announcing that the Government has approved a bill for the termination of the 1995 income and capital tax treaty with Russia. The release also notes certain consequences of the termination, including that the domestic withholding tax rate of 15% will apply on payments to Russia, instead of the preferential treaty rates. Further, losses to the Ukraine budget will be prevented given that Ukraine will no longer be required to credi…