Tax Treaty Between Cyprus And Saudi Arabia Signed

; posted on
January 12th, 2018

The Convention for the avoidance of double taxation with respect to taxes on income and for the prevention of tax evasion between the Republic of Cyprus and the Kingdom of Saudi Arabia was signed in Riyadh. The Convention was signed during the official visit of the President of the Republic of Cyprus to Saudi Arabia. Mr. Ioannis Kasoulides, Minister of Foreign Affairs of the Republic of Cyprus and Mr. Mohammad Abdullah Al-Jadaan, Minister of Finance of Saudi Arabia, signed the Treaty on behalf of their countries respectively.

The Treaty

The Convention is based on the OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital and it includes the exchange of financial and other information in accordance with the relevant Article of the Model Convention. The Convention is expected to contribute to further develop the economic relationship and to enhance the co-operation in tax matters between the two States. More details will be reported after they have been released.

Source: Cypriot Government

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