On 3 January 2018, the governments of Cyprus and Saudi Arabia signed an agreement for the Avoidance of Double Taxation (DTA). The DTA was signed during the official visit of the President of the Republic of Cyprus to Saudi Arabia and is based on the OECD Model Tax Convention. Main Provisions Withholding tax rate on interest…
The double tax treaty (DTT) between Cyprus and Ethiopia signed in December 2015 entered into force on 18 October 2017 as per recent update of the Cyprus Ministry of Finance. Based on the provisions of the DTT, in the case of Cyprus the DTT will take effect as from 1 January 2018 and in the…
The House of Representatives of Cyprus, for the purposes of harmonizing the legislation with the EU Value Added Tax (“VAT”) Directive, voted on 30/11/2017 a new VAT Law which amends the main VAT Law N.95(I)/2000. A. VAT on the sale of building land (apply as from 02/01/2018) The supply of undeveloped building land, in the…
