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Cyprus and Netherlands Double Tax Treaty Update

October 2019 - Tax & Private Client. Legal Developments by Kinanis LLC.

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Cyprus has concluded the negotiations for the avoidance of double taxation with the Netherlands. The double tax treaty was agreed at technocratic level in Hague. It is expected to be signed by the end of 2019 or early in 2020.

The agreement with the Netherlands is considered crucial as both countries are making strong efforts to attract investment and provide services to multinational companies.

The convention with the Netherlands is Cyprus’ 66th to come in effect, strengthening ongoing efforts to expand the targeted double taxation network. The only EU country with which no double tax treaty has been signed is Croatia.

The Republic of Cyprus is in a continuous effort aiming the signing of a double tax treaty with Hong Kong, Pakistan, Nigeria and Jordan. Cyprus is also approaching Japan, Kenya and Panama for the conclusion of a treaty.

Mr. Marios Palesis (Partner-Tax Department), Mr. Antonis Clark (Officer-Tax Department)