Insider Economy Cyprus and Egypt sign double tax avoidance deal

Cyprus and Egypt sign double tax avoidance deal

Cyprus and Egypt have signed a  new agreement on the avoidance of double taxation.

The agreement was signed in Cairo on Tuesday by the Foreign Ministers of the two countries Nicos Christodoulides and Sameh Shoukry.

The new text updated the existing Agreement that was signed on 19/12/1993 and entered into force on 14/3/1995.


The new Agreement that has been agreed will contribute to further develop the economic relationship and to enhance the co-operation in tax matters between the Government of the Republic of Cyprus and the Government of Arab Republic of Egypt,” the Finance Ministry said.

The Convention is based on the new OECD Model Convention for the Avoidance of Double Taxation on Income and on the UN Model Tax Convention.

Upgrading and expanding the network of Double Taxation Conventions, is of high economic and political importance and aims to further strengthen Cyprus as an international business centre.

Top Stories

Nicosia Central Prisons part of Netflix jail series

Nicosia Central Prisons will be included in a new documentary series by Netflix platform which focuses on inter-workings in jails worldwide, according to Philenews. The...

Hotspots of the Bobcat Fire northeast of Los Angeles

A satellite image shows hotspots of the Bobcat Fire northeast of Los Angeles, California, U.S. September 21, 2020. Picture taken September 21, 2020.

Turkey’s Erdogan, France’s Macron discuss Cyprus, Eastern Med tensions

Turkish President Tayyip Erdogan and France's Emmanuel Macron said on Tuesday evening they had held their first conversation in months following a standoff between...

Egypt’s Sisi committed to ridding Libya of militia, regional interference

Egypt is committed to helping Libyans "rid their country of armed militias and terrorist organizations, and put an end to the blatant interference of...

EU chairman delays summit to Oct. 1-2 after going into quarantine

European Council President Charles Michel postponed a summit of European Union leaders on Thursday and Friday until the start of October after going into...

Taste

Souvlakia

Pork souvlaki: Put the meat and all the other ingredients in a bowl (not metal) and mix well. Cover the bowl and keep in...

Pastelli (Carob Toffee)

The nutritional sweet of Pastelli is made with the syrup of carob pods, produced by boiling their pulp until it forms a thick, sticky...

Meatballs with tomato and cumin

Place all meatball ingredients in a bowl and knead well with hands. Keep the mixture in the fridge for approximately 1 hour to thicken. In...

Crushed wheat pilaf with sausages and halloumi

Ingredients: 1 cup bulgar wheat ¼ of the cup vermicelli noodles or spaghetti, broken into small pieces 1 onion 2 sausages 1 cup tomato juice 1 vegetable stock cube 1/3 ts...