Insider Economy Cyprus signs taxation avoidance treaty with the Netherlands

Cyprus signs taxation avoidance treaty with the Netherlands

Cyprus has signed a landmark taxation avoidance treaty with the Netherlands providing that a non-resident individual or company will not be taxed in both countries for the same income.

The agreement was signed at a technocrat-level last week in The Hague, insiders told Phileleftheros.

The only EU country that Cyprus has not signed a taxation avoidance treaty yet is Croatia which joined the group in 2013.

The agreement with the Netherlands is considered as especially important because competition throughout the years in efforts by the two countries to attract investment and provide services to multinational companies was strong and will continue to be.

One insider said the text of the agreement is good enough for Cyprus since it has filled significant gaps that were there before negotiations began.

The agreement with the Netherlands is the Mediterranean island’s 66th to come in effect, reinforcing ongoing efforts to expand the targeted double taxation network.

Last March, a similar agreement was signed between Cyprus and Kazakhstan which is a much-promising market for services.

A big effort is now underway aiming for a taxation avoidance treaty to be signed with Hong Kong, Pakistan, Nigeria and Jordan. Cyprus is also eyeing such a treaty with Japan, Kenya and Panama.

Brazil, which is a country Cyprus would have liked to negotiate a taxation agreement seems to be uninterested, for the time being.


Read more:


Top Stories

244 new cases, out of 11,163 tests announced on Friday

The Health Ministry announced 244 new Coronavirus cases out of 11,163 PCR and rapid antigen tests on Friday, 15 January, taking confirmed infections to...

Where to get antigen rapid tests on Saturday

The Health Ministry announced the following antigen rapid test sites for Saturday, 16 January 2021:   LIMASSOL Tassos Papadopoulos building – TEPAK, Limassol 08:30-16:30 Church Agia Varvara, Zakaki...

President Anastasides to get the second dose of COVID-19 vaccine next Monday

Cyprus President, Nicos Anastasiades, will receive the second dose of the vaccine against COVID-19, next Monday at the Health Center of Latsia, according to...

Expert says milder version of pandemic likely to be present in 2022

Dr Constantinos Tsioutis, Assistant Professor, Internal Medicine & Infection Prevention and Control at the Department of Medicine of the European University Cyprus and head...

Spain’s COVID-19 incidence climbs above 500 cases per 100,000 people

Increased activity at hospitals and health centres near Madrid was seen on Friday (January 15) as Spain's coronavirus incidence as measured over the past...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...