An amendment to the double taxation avoidance agreement between Austria and Cyprus was signed on behalf of the two countries on 21 May, according to an announcement by the Austrian Federal Ministry of Finance. The amendment has not been published, but according to the announcement it modifies the existing double taxation avoidance agreement, which was concluded in 1990, to align it with the current OECD standard, providing greater transparency and protection against tax evasion. We will provide further details in a later issue.
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