Double taxation treaties

The development of international trade has increased the issue of double taxation and many countries have entered into agreements with other countries in order to limit taxation. A double taxation treaty enables the offsetting of tax paid in one country against the tax payable in another thus preventing double taxation although the rates and exemptions vary from one country to another. As of January 2010 Cyprus had entered into 45 double taxation agreements, these are listed in the table below. Although Cyprus has fewer DTT’s than some competing EU jurisdictions they are, in many cases, more beneficial such as those with Russia, Eastern Europe and the Middle East.

A significant number of double tax treaties concluded by Cyprus lowers and in some cases eliminates, foreign withholding taxes on dividends, interest, royalties or capital gains. Tax sparing credits (see below) are also prevalent in some jurisdictions.

A list of Double Taxation Agreements which have been concluded and their respective date of enforcement can be found below.

Country Effective Date Status
Austria 01.01.1991 In force
Armenia 19.09.2011 In force
Barbados 03.05.2017 Still not in force
Bahrain 26.04.2016 In force
Belarus 12.02.1999 In force
Belgium 08.12.1999 In force
Bulgaria 03.01.2001 In force
Bosnia and Herzegovina 08.09.1986 In force
UK 01.11.1974 In force
Hungary 24.09.1982 In force
Germany 16.12.2011 In force
Guernsey 04.03.2015 In force
Greece 16.01.1969 In force
Georgia 04.01.2016 In force
Denmark 18.05.2011 In force
Jersey 17.02.2017 In force
Egypt 14.03.1995 In force
India 14.12.2016 In force
Iran 05.03.2017 In force
Ireland 07.12.1970 In force
Island 22.12.2014 In force
Spain 28.05.2014 In force
Italy 09.06.1983 In force
Canada 03.09.1985 In force
Qatar 20.03.2009 In force
China 05.10.1991 In force
Kuwait 25.10.2013 In force
Latvia 24.05.2016 Still not in force
Lebanon 14.04.2005 In force
Lithuania 01.01.2015 In force
Luxembourg 08.05.2017 Still not in force
Mauritius 12.06.2000 In force
Malta 11.08.1994 In force
Moldova 03.09.2008 In force
Norway 08.07.2014 In force
UAE 01.01.2014 In force
Poland 01.01.1992 In force
Portugal 16.08.2013 In force
Russia 01.01.2000 In force
Romania 08.11.1982 In force
San Marino 18.07.2007 In force
Seychelles 27.10.2006 In force
Serbia 08.09.1986 In force
Singapore 08.02.2001 In force
Syria 22.02.1995 In force
Slovakia 30.12.1980 In force
Slovenia 14.09.2011 In force
USA 31.12.1985 In force
Tajikistan 26.08.1983 In force
Thailand 04.04.2000 In force
Turkmenistan 26.08.1983 In force
Ukraine 01.01.2014 In force
Finland 28.04.2013 In force
France 01.04.1983 In force
Montenegro 08.09.1986 In force
Czech Republic 26.11.2009 In force
Switzerland 15.10.2015 In force
Sweden 13.11.1989 In force
Estonia 08.10.2013 In force
Ethiopia 30.12.2015 Still not in force
South Africa 08.12.1998 In force