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 or after 1 January 2020, and
- Other taxes, in amounts of any taxation year beginning on or after 1 January 2020.
The text of the agreement and the protocol can be found on the website of the Tax Department at www.mof.gov.cy/tax