Germany and Ukraine are set to conclude a new Double Taxation Agreement. Federal Finance Minister Lars Klingbeil (SPD) announced early Monday morning, just before departing for Paris, that the agreement would be signed at the G7 Finance Ministers’ meeting. According to Klingbeil, he will sign the pact with his Ukrainian counterpart, Sergii Marchenko.

The German Finance Minister stated that the implementation of this new treaty is designed to strengthen economic exchange and establish legal certainty between the two nations. While Germany and Ukraine had previously established a “Convention for the Avoidance of Double Taxation” in the 1990s, the new agreement aims to elevate economic relations to a new level, particularly with an eye toward the period following the war and subsequent reconstruction efforts.