Cyprus signs double taxation treaty with Jersey

The Republic of Cyprus signed an agreement for the avoidance of double taxation (‘DTT’) with Jersey, during a ceremony at London’s Cyprus High Commission on 11 July 2016.

This DTT is based on the OECD model convention for the avoidance of double taxation on income and capital.

According to the announcement of the Cyprus Ministry of Finance, the agreement reached will contribute to the further development of the commercial and economic ties between the two countries.

The Ministry’s announcement also iterated that updating, maintaining and expanding the existing DTT network aims at further strengthening and attracting foreign investment and promoting Cyprus as an international business centre.