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Convention for the Elimination of Double Taxation was signed between Cyprus and Luxembourg

Convention for the Elimination of Double Taxation was signed between Cyprus and Luxembourg

17 May 2017 Tax Law

The Press and information office of the Government of Republic of Cyprus has announced that on the 8th of May 2017 the Convention for the Elimination of Double Taxation with respect to Taxes on Income and on Capital and the Prevention of Tax Evasion and Avoidance was signed between the Republic of Cyprus and the Grand Duchy of Luxembourg.

The signed agreement will contribute to further develop the economic relationship and to enhance the co-operation in tax matters between the Republic of Cyprus and the Grand Duchy of Luxembourg as the Republic of Cyprus had no such convention with this country.

The Convention is based on the OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital and incorporates all the minimum standards of the Base Erosion Profit Shifting project as issued by the OECD/G20 in October 2015.