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

New record number of new cases of COVID-19 on Tuesday: 152

The Health Ministry announced 153 new COVID-19 cases on 20 October, out of 4,410 laboratory tests, taking confirmed infections to 2, 839. The break-down of...

Stench in Kokkinotrimithia and Mammari due to farms and burned garbage

Citizens of Kokkinotrimithia and Mammari contacted philenews and complained that at the Kafkalla location some people threw a huge quantity of garbage and set...

Police chasing suspects in Paphos

Members of the Anti-Narcotics Unit who were watching some suspects for drug trafficking, according to first information, chased a suspicious vehicle which tried to...

71-year-old dead in accident

During an accident that took place this morning in the district of Nicosia, 71-year-old Andreas Alexandrou from Kato Moni of Nicosia District lost his...

Rain and hail in Lympia and Xylotympou (PHOTOS)

Rain and hail were seen in various areas of Cyprus. Social media users published photos from Lympia and Xylotympou. (philenews)


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...