Cyprus signed a Double Taxation Agreement with Guernsey

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guernseyCyprus and Guernsey have recently signed a Double Taxation Agreement (DTA). The DTA is expected to contribute to the further development of the relationship between Cyprus and Guernsey with regards to commercial and finance matters. Cyprus has a vast network of the Double Taxation Agreements with other countries. The aim for renewing and maintaining the network of Double Taxation Agreements is to increase the interest of foreign investors and promote the Republic of Cyprus as an international business center. In accordance with the Agreement, the following withholding taxes will apply: Dividends: 0% Interest: 0% Royalties: 0% The Agreement will come into force after the two countries exchange ratification instruments. The provisions of the Agreement will have effect from January 1, 2015, following its ratification. Please contact us if you require specific information regarding the implementation of the Double Taxation Agreement.