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The Double Tax Treaty between Cyprus and Jersey enters into force in 2018. Eurofast, Taxand Cyprus, explains the treaty.
Officials of Jersey and Cyprus have signed a Double Taxation Agreement (DTA) on 11 July 2016 in London. The agreement – negotiations for which had lasted since 2013 – will come into force on 1 January 2018.
Senator Bailhache for the Government of Jersey stated that “the signing of the DTA with Cyprus continues Jersey’s firm and longstanding commitment to the international standards of transparency and information exchange.”
“Jersey also pursues a good neighbour policy in relation to the European Union and we are therefore delighted that with the signing of the DTA we will be further strengthening our political and business relationship with an EU Member State. The signing of a DTA with Cyprus is particularly welcome because we have a great deal in common as international finance centres.”
The treaty generally follows the OECD model tax convention for the avoidance of double taxation on income and capital.
Discover more: Double Tax Treaty between Cyprus and Jersey enters into force in 2018
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With the conclusion of the DTA, Jersey became Cyprus’ sixty first tax treaty partner.