Ukraine's Ministry of Finance issued a release on 16 June 2023 announcing that the Cabinet of Ministers has approved a draft law for the termination of the 2003 income tax treaty with Syria. The release also notes certain consequences of the termination, including that the domestic withholding tax rate of 15% will apply to payments to Syria, 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…