25 February 2016 Cyprus expands tax treaty network Cyprus' Double Tax Treaty network has been expanded with three new treaties (Guernsey and Switzerland effective as of January 1, 2016 and Georgia effective as of January 1, 2017). In addition, Cyprus signed a Protocol amending the existing treaty with South Africa (effective as of April 1, 2012). Cyprus also concluded new treaties with Bahrain, Iran and Ethiopia in 2015 and a Protocol for amending the existing treaty with Ukraine. These will enter into force once the ratification process is completed. All of the new treaties concluded by Cyprus are generally based on the Organization for Economic Co-operation and Development (OECD) Model Tax Convention framework with a number of modifications. Document ID: 2016-0378 |
