ARTICLE
24 January 2019

Entry Into Force Of The Double Taxation Agreement Between Cyprus And Saudi Arabia

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Elias Neocleous & Co LLC

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Elias Neocleous & Co LLC is the largest law firm in Cyprus and a leading firm in the South-East Mediterranean region, with a network of offices across Cyprus (Limassol, Nicosia, Paphos), Belgium (Brussels), Czech Republic (Prague), Romania (Budapest) and Ukraine (Kiev). A dynamic team of lawyers and legal experts deliver strategic legal solutions to clients operating in key industries across Europe, Asia, the Middle East, India, USA, South America, and China. The firm is renowned for its expertise and jurisdictional knowledge across a broad spectrum of practice areas, spanning all major transactional and market disciplines, while also managing the largest and most challenging cross-border assignments. It is a premier practice of choice for leading Cypriot banks and financial institutions, preeminent foreign commercial and development banks, multinational corporations, global technology firms, international law firms, private equity funds, credit agencies, and asset managers.
The Cyprus Ministry of Finance has made known that the double tax agreement with Saudi Arabia, which was signed on 3 January 2018, will enter into force on 1 March 2019.
Cyprus Tax

The Cyprus Ministry of Finance has made known that the double tax agreement with Saudi Arabia, which was signed on 3 January 2018, will enter into force on 1 March 2019. The provisions of the agreement will apply to amounts paid or credited on or after 1 January 2020 with regard to taxes withheld at source, and to taxable years beginning on or after 1 January 2020 with regard to other taxes.

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