Revised Double Tax Agreement Between Cyprus And India Published

Corporate Tax, Cyprus

• Introduction
• Key features
• Comment

Introduction

The revised double tax agreement between Cyprus and India, which was signed on November 18 2016, has now been published in the Government Gazette.

The new agreement closely follows the 2010 Organisation for Economic Cooperation and Development (OECD) Model Tax Convention, with only minor modifications, and the protocol to the agreement clarifies a number of provisions.

Key features

Taxes covered

The double tax agreement covers all taxes on income levied by either country or by any of the country's sub-divisions or local authorities, including taxes on capital appreciation and on gains from the alienation of movable or immovable property. The agreement applies to income tax, including any surcharge, in India and income tax, corporate income tax, special contribution for defence tax and capital gains tax in Cyprus.