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.

CountryEffective DateStatus
Austria01.01.1991In force
Armenia19.09.2011In force
Barbados03.05.2017Still not in force
Bahrain26.04.2016In force
Belarus12.02.1999In force
Belgium08.12.1999In force
Bulgaria03.01.2001In force
Bosnia and Herzegovina08.09.1986In force
UK01.11.1974In force
Hungary24.09.1982In force
Germany16.12.2011In force
Guernsey04.03.2015In force
Greece16.01.1969In force
Georgia04.01.2016In force
Denmark18.05.2011In force
Jersey17.02.2017In force
Egypt14.03.1995In force
India14.12.2016In force
Iran05.03.2017In force
Ireland07.12.1970In force
Island22.12.2014In force
Spain28.05.2014In force
Italy09.06.1983In force
Canada03.09.1985In force
Qatar20.03.2009In force
China05.10.1991In force
Kuwait25.10.2013In force
Latvia24.05.2016Still not in force
Lebanon14.04.2005In force
Lithuania01.01.2015In force
Luxembourg08.05.2017Still not in force
Mauritius12.06.2000In force
Malta11.08.1994In force
Moldova03.09.2008In force
Norway08.07.2014In force
UAE01.01.2014In force
Poland01.01.1992In force
Portugal16.08.2013In force
Russia01.01.2000In force
Romania08.11.1982In force
San Marino18.07.2007In force
Seychelles27.10.2006In force
Serbia08.09.1986In force
Singapore08.02.2001In force
Syria22.02.1995In force
Slovakia30.12.1980In force
Slovenia14.09.2011In force
USA31.12.1985In force
Tajikistan26.08.1983In force
Thailand04.04.2000In force
Turkmenistan26.08.1983In force
Ukraine01.01.2014In force
Finland28.04.2013In force
France01.04.1983In force
Montenegro08.09.1986In force
Czech Republic26.11.2009In force
Switzerland15.10.2015In force
Sweden13.11.1989In force
Estonia08.10.2013In force
Ethiopia30.12.2015Still not in force
South Africa08.12.1998In force