Five additional DTAAs signed by the Republic of Cyprus became effective as of 1 January 2014, a development which further enhances Cyprus positioning as a preferred hub for international investments and tax planning.

Spain
Visit our earlier publication for details:

http://www.reandacyprus.com/index.php/component/k2/item/83-cyprus-and-spain-sign-off-a-double-taxation-avoidance-agreement

Portugal
Visit our earlier publication for details:

http://www.reandacyprus.com/index.php/component/k2/item/79-cyprus-and-portugal-sign-off-a-double-taxation-avoidance-agreement

Ukraine
Visit our earlier publication for details:

http://www.reandacyprus.com/index.php/component/k2/item/76-cyprus-signs-off-a-double-taxation-avoidance-agreement-dtaa-with-ukraine

Estonia
The DTAA signed between Cyprus and Estonia provides for no withholding taxes on dividends, interest and royalties, while any gains from immovable property will be taxed in the country where the property is located.

Finland
The DTAA signed between Cyprus and Finland provides for a withholding tax of 5% on dividends when the recipient is a company controlling at least 10% of the company paying out the dividend (15% in all other cases). The DTAA also provides for no withholding taxes on interest and royalty payments, while any gains from immovable property will be taxed in the country where the property is located.

Important note
Cyprus unilaterally does not withhold taxes on outbound dividends and interest payments. For royalty payments on intellectual property rights used within Cyprus, application of the EU Interest and Royalties Directive can reduce withholding tax to 0%.