On 18 April 2023, the Upper House of the Dutch Parliament approved the first of its kind Double Tax Treaty ("Treaty") between the Republic of Cyprus and The Kingdom of the Netherlands, which was signed on 1 June 2021.

The ratification process in the Netherlands will be finalised by the signature of the Treaty by the King of the Netherlands. The ratification process in Cyprus has been completed with the publication of the Treaty in the Cyprus Government Gazette on 4 June 2021.

The ratification process will be finalised upon the exchange of Notification letters.

The Treaty is anticipated to be effective from 1 January 2024.

For more information and details, please refer to our previous Tax alert.

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.