Cyprus:
Another Step Towards Ratification Of The Cyprus - Spain Double Taxation Agreement
22 August 2013
Elias Neocleous & Co LLC
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The double taxation agreement between Cyprus and Spain, which
was signed in Nicosia on 14 February 2013, has taken another step
towards ratification. On 2 August the Spanish cabinet approved the
agreement and forwarded it the Spanish parliament for
consideration. The new agreement follows the OECD Model Convention
and applies to taxes on capital and income. It will enter into
force once the two countries have exchanged formal notifications
that their respective domestic ratification procedures have been
completed and will apply to the tax year beginning on the following
1 January and subsequent tax years.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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