Double taxation agreement with Spain

Posted by admin on February 28, 2014

On February 14, 2013, the governments of Cyprus and Spain concluded and signed a double taxation treaty (DTT) – based on the 2010 OECD Model Convention – with it having now come into force as of January 1, 2014, following the completion of the ratification process by the governments of the two countries.

Following the treaty's ratification, Cyprus has been removed from Spain's jurisdiction 'black list' and will cease to be considered a tax haven by the Spanish tax authorities.

The DTT allows international businesses and private individuals investing in Spain to take advantage of a number of tax benefits Cyprus can offer, while enabling Spanish investors to use Cyprus as gateway to the range of non-EU countries with which Cyprus has concluded double taxation agreements.