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Given that the European Union and Ukraine initialed at the end of November 2013 a comprehensive Air services agreement, and signing of the latter is expected in 2014, a great deal of new airlines could appear in the Ukrainian market. As air carriers often use aircrafts on the basis of sublease agreement, a quite sound question concerning taxation on income and gains earned from such lease agreement could arise: should the mentioned income and gains be liable to taxes in accordance with the Ukrainian legislation or a relief under a double taxation treaty could be resorted to? icpdf The present stuff is specially dedicated to this answer.