The Cyprus Tax Department announced on February 18th of 2019 that the Double Taxation Treaty which was signed between Cyprus and Saudi Arabia on January 3rd of 2018 will come into effect as of March 1st 2019.
The provisions of this Treaty and the relevant Protocol apply to:
- Tax which is withheld at the source, or to amounts which are paid or credited to, during or after January 1st, 2020;
- Taxes, or amounts of any other tax year, commencing during or after January 1st of the year 2020.
The description of the Treaty and Protocol may be accessed on the Tax Department's website at this link: www.mof.gov.cy/tax
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.