Cyprus Keeps Punching
Global Tax Insights
07 January, 2014

Cyprus has put five new double tax agreements into effect, including, importantly, one with the Ukraine, which includes beneficial treatment for real estate owned through a Cyprus holding company. The countrys DTA with Russia used to include such treatment, but the Protocol signed a year ago imposed limits on real estate holding companies, albeit only coming into effect in 2017. Although Cyprus has come in for a great deal of negative publicity since the "bail-in" imposed on bank depositors by the Troika earlier in 2013, it maintains an extremely tax-friendly environment for international holding companies, and double tax treaties are a key element of this regime, along with its 12.5 percent corporation tax rate and favorable rules on dividends and royalties. As a tax-friendly hub for investment into the European Union, Cyprus ranks alongside Ireland and Malta. Although the Government Read More »
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