DOUBLE TAX TREATY BETWEEN CYPRUS AND UNITED KINGDOM

The Cyprus Tax Department issued a circular EE24 dated 22^nd August 2018 and announced that the necessary legal implementation procedures for the application of the double tax treaty between Cyprus and United Kingdom have been finalised by the two countries.

 

The Treaty was signed on the 22^nd March 2018 and applied from 18^th of July 2018.

 

The treaty and related protocol apply in Cyprus as follows:

 

1. For withholding taxes at source for amounts paid or credited on or after 1^st January 2019.
2. For all other taxes for amounts of any tax year that commence on or after 1^st of January 2019.

 

The full script of the treaty is available at the website of the tax department www.mof.gov.cy/tax

 

The old treaty between Cyprus and UK stopped applying on 18^th July 2018.