On 29/12/2017 the Government Gazette of the Republic published the Agreement between the Republic of Cyprus and the Grand Duchy of Luxembourg for the avoidance of double taxation in respect of taxes on income and on capital and the prevention of tax evasion and tax avoidance, the provisions of which were transferred to Law 20 (VII)/2017.
The Agreement was signed on 8/5/2017 and aims at further developing the economic relations and strengthening the cooperation between the two States–Parties regarding taxation.
Under the law, the taxes to which the Agreement applies, in the case of the Republic of Cyprus, is the personal income tax, corporate income tax, the Special Contribution for Defence of the Republic and the Capital Gains Tax.
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