On June 1, 2021, the Republic of Cyprus and the Kingdom of the Netherlands signed the treaty on the Elimination of Double Taxation with regard to Income Taxes and the Prevention of Tax Evasion and Tax Avoidance.
It is based on the OECD Model Convention for the Elimination of Double Taxation on Income and on Capital and contains all the minimum standards of Actions for the Base Erosion and Profit Shifting (BEPS) concerning bilateral agreements. The agreement also provides for the exchange of banking and other confidential information.
The Cyprus Ministry of Finance, in its press release, emphasized on the fact that “the expansion, maintenance and updating of the network of Contracts for the Elimination of Double Taxation is of the highest economic and political importance, as they contribute to the strengthening and promotion of our country as an international business center”
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