Cyprus:
Double Tax Treaty Agreement Between Cyprus And Netherlands
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On 1 June 2021, the Republic of Cyprus and The
Netherlands have signed for the first time an agreement to avoid
double taxation.
The treaty has not yet been ratified into the Cyprus tax
legislation and it is expected to be once certain legal proceedings
will take place.
The treaty will ensure the tax treatment of transactions between
the two countries, providing stability and confidence to the
investors. It will contribute to the additional development of
economic and trade relations between the two countries and
strengthen and promote investment opportunities between Cyprus and
the Netherlands.
The treaty is based on the OECD Model Convention for the
Elimination of Double Taxation on Income and on Capital and
incorporates all the minimum standards of the Base Erosion and
Profit Shifting Action Plans.
The expansion of the Double Tax treaty network of
Cyprus, is expected to further contribute to the promotion of
Cyprus as an International Business
Center.
Originally published 3 June 2021
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