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

EU to remove Serbia, Montenegro from coronavirus safe list – sources

  The European Union is set to remove Serbia and Montenegro from its safe list of countries from which non-essential travel is allowed, while including...

Cyprus to set up agency to promote tertiary education sector

  House President Demetris Syllouris met on Tuesday with Ministers and academia representatives to discuss the establishment of an agency to promote the tertiary education...

One tests positive to Covid-19, a foreign national permanently residing in Cyprus

One more person has tested positive for coronavirus after 1754 tests, the Health Ministry said on Tuesday, raising the total in Cyprus to 1,023. The...

Random Covid-19 tests at airports to double to 600 a day

    The number of random Covid-19 tests to be held among arriving passengers from Group A and B countries is to be doubled from 300...

Yellow alert for Wednesday, temperatures to edge down from Thursday

    The Met Office has issued a new extreme high temperature warning for tomorrow, the fifth in as many days. The yellow alert is in force...


Halloumi cheese fingers

Ingredients Serves: 2 1/2 tablespoon olive oil 175g (6 oz) halloumi cheese, cut into sticks 1 dessertspoon lemon juice 1/4 teaspoon dried oregano freshly ground black pepper to taste Method Prep:5min ›...

Koupes (cracked wheat pies) with mushrooms

Ingredients: For the dough: 1½ cup bulgur wheat 2 cups water 1 tsp. salt For the filling: 250gr. mushrooms, finely chopped ½ cup of olive oil 2 big onions, coarsely chopped 1...

Fried zucchini balls with halloumi

Ingredients: 6 medium zucchinis (approximately 1kg) 1 small onion, grated 1 large halloumi (about 250gr.), grated ½ cup simple flour 2 tsps. fine lemon zest 2 big eggs 1 tbsp. fresh...

Rocket salad

Ingredients: 4 cups rocket leaves, rinsed and dried 1 cup cherry tomatoes 1 cup pomegranate seeds 1 red bell pepper ½ cup croutons 2-3 light cheese slices (grated) salt ½ of a...