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 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
With the fast growth of China’s economy and the continuous improvement of the comprehensive strength of domestic enterprises, as well as the implementation of the “One Belt, One Road” policy, an increasing amount of Chinese enterprises are beginning to expand their global footprint and establish their presence in Europe.
TPA Global has developed a practical roadmap of 6 steps meant to guide CFOs in their Journey of rising above troubles to reach a situation of full control. These steps are presented in a series of short video clips (3-5 minutes):