ARTICLE
12 June 2012

Amendment Of The Cyprus-Austria Double Tax Agreement

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Elias Neocleous & Co LLC

Contributor

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.
An amendment to the double taxation avoidance agreement between Austria and Cyprus was signed on behalf of the two countries on 21 May.
Cyprus Wealth Management

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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