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ARTICLE · 20 MARCH 2014

Cyprus And Norway Sign Double Tax Avoidance Agreement

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The Cyprus government recently announced that it has signed a new double tax agreement with Norway.

CyprusWealth Management

The Cyprus government recently announced that it has signed a new double tax agreement with Norway.

Previously, double tax avoidance between the two countries was regulated by the 1951 double tax agreement between Norway and the United Kingdom, which was extended in 1955 to include several British colonies, including Cyprus. On becoming independent, most of the newly independent countries negotiated new arrangements, but Cyprus had not done so until now.

The new agreement is based on the Organisation for Economic Cooperation and Development Model Tax Convention and provides for the exchange of information in accordance with the relevant articles thereof. The agreement will take effect once it has been ratified by both countries.

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