New Double Tax Treaty between Cyprus and Spain

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  The new double tax treaty between Cyprus and Spain that was signed on February the 14th, 2013 enters into force on 1st of January 2015. The new treaty was expected originally to come into force on the 1st of January 2014 however since there was no official exchange of the ratified documents between the Governments of Spain and Cyprus, … Read More

New Cyprus-India Double Tax Treaty

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Notification as a non-cooperative jurisdiction In a previous post, on 01.11.2013, the Indian Ministry of Finance issued a notification classifying Cyprus as a non-cooperative jurisdiction for tax matters. The decision has adversely affected investors using Cyprus companies for inbound or outbound Indian investments. In a summary, payments from India to Cyprus have attracted  a 30% Indian withholding tax, application of the tough … Read More