A double taxation treaty and another tax evasion restriction was signed last week between Cyprus and Iran, which is setting the foundation for cooperation between the two countries.
Something that prospects those economic sanctions against Iran will be lifted as a result of the conclusion of negotiations on Iran’s nuclear programme was successful.
The two agreements were signed by the Cyprus Finance Minister and the Iranian Deputy Finance Minister. Both agreements were signed before the meeting at the Cyprus Chamber of Commerce and Industry, organised by the newly established Cyprus-Iran Business Association.
According to the Cyprus News Agency, after Iran’s deal for its nuclear programme with UN, Germany and EU was successful, investment flow was allowed in Cyprus. Iran also wishes to invest abroad and it’s sanctions to be lifted, as well as EU to remove the ban on Iranian oil.
Cyprus could have advantages from increased trade ties, since it will be acting as a bridge between the EU and Iran.