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kazakhstan

Cyprus and Kazakhstan signed double taxation convention

The Republic of Cyprus and Kazakhstan have signed a Convention for the Avoidance of Double Taxation and for the Combating of Tax Evasion with respect to taxes on income. According to a press release issued by the Public Information Office, the Convention was signed in Nursultan, Kazakhstan, by the Cypriot Minister of Foreign Affairs Nikos Christodoulides and the Kazakh First … Read more

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Central Bank Governor: Anti-money laundering efforts beginning to be recognised abroad

The newly appointed Governor of the Central Bank of Cyprus Constantinos Herodotou has spoken of a new culture of compliance in Cyprus banks on anti-money laundering since 2013. Addressing the 9th Nicosia Economic Congress on “the Cyprus Economy – The way forward,” Herodotou said anti-money laundering efforts undertaken by the Cyprus authorities “are beginning to be recognised abroad.” This, he … Read more

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US official praises Cyprus’ “enormous progress” on anti-money laundering

US Department of Treasury Assistant Secretary for Terrorist Financing Marshall Billingslea has praised Cyprus’ “enormous progress” in issues relating to anti-money laundering. Billingslea, who was in Cyprus last week, met with Finance Minister Harris Georgiades, a visit described as part of the US’ scrutiny over the island’s financial sector. Georgiades pointed out the two countries and the EU are promoting … Read more

COMMISSION-EUROPENNE

EU LIST OF NON COOPERATIVE TAX JURISDICTIONS approved 12 March 2019

EU Finance Ministers have updated the EU list of non-cooperative tax jurisdictions, based on an intense process of analysis and dialogue steered by the Commission. The list has proven a true success with many countries having changed their laws and tax systems to comply with international standards. Over the course of last year, the Commission assessed 92 countries based on … Read more

Riyadh skyline at night #7, Capital of Saudi Arabia

Agreement for avoidance of double taxation concluded between Cyprus and Saudi Arabia

The agreement for avoidance of double taxation concluded between Cyprus and Saudi Arabia in January 2018 came into effect on 1 March 2019. As announced by the Tax Department of the Cyprus Ministry of Finance, the provisions of the agreement and of the related protocol apply with regard to: Taxes withheld at the source, in amounts paid or credited on … Read more

Υπουργός Οικονομικών – Υπογραφή π

Protocol amending the Convention for the Elimination of Double Taxation between the Government of Cyprus and the British Government

A Protocol for the Elimination of Double Taxation with respect to Taxes on Income and on Capital Gains and the Prevention of Tax Evasion and Avoidance was signed December 19, 2018 in Nicosia between the Government of the Republic of Cyprus and the Government of the United Kingdom of Great Britain and Northern Ireland. On behalf of the Republic of … Read more

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Cyprus and the United Kingdom have signed a new double tax treaty and accompanying Protocol (DTT)

Cyprus and the United Kingdom have signed a new double tax treaty and accompanying Protocol (DTT). Certain formal legal procedures must now take place in each State, following which the new DTT will enter into force. Once the new DTT enters into force it will take effect in Cyprus as from 1 January of the next calendar year; and in … Read more

Promenade alley at Molos Park in center of Limassol city Cyprus

Economy expands 3.4% in the first quarter of the year

The Cypriot economy expanded 3.4 per cent in the first quarter of the year, compared to the respective three-month period of 2016, and a seasonally adjusted 3.3 per cent, the statistical service said citing a flash estimate. Compared to October to December, the Cypriot economy grew 0.6 per cent in the first quarter, Cystat said in a statement on its … Read more

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Solid growth rate and a drop of debt expected according to EC Spring Economic Forecast for Cyprus

A sοlid growth rate of 2.5% and 2.3% of GDP in 2017 and 2018, a budgetary surplus of 0.2% and 0.7%, and a fall in unemployment to 11.7% and 10.6% respectively are included in Cyprus` spring economic forecasts, which the Commission has made public in Brussels. The Commission also estimates that it is highly probable that the situation will overcome … Read more

Why Luxembourg

Cyprus and Luxembourg have signed a double tax avoidance and prevention of tax evasion treaty

Cyprus and Luxembourg have signed a double tax avoidance and prevention of tax evasion treaty, based on the model convention of the Organisation for Economic Cooperation and Development, the finance ministry said. Finance minister Harris Georgiades and his Luxembourgian peer Pierre Gramegna signed the agreement, which aims at helping the two EU members strengthen bilateral ties, the ministry said in … Read more