Dec 28, 2023

Double Tax Treaty between Cyprus and Croatia

Double Tax Treaty between Cyprus and Croatia

Double Tax Treaty (DTT) treaty between Cyprus and Croatia, the first of its kind between the two countries, entered into force  today, 28th December 2023 and is effective as from 1st January 2024. It was signed on 17th October 2023 in Luxembourg, within the context of the ECOFIN meeting by the Minister of Finance Makis Keravnos on behalf of the Republic of Cyprus and by the Croatian Minister of Finance, Marko Primorac.

The Treaty updates the existing Agreement which was signed in June 1985, between the Republic of Cyprus and the Socialist Federal Republic of Yugoslavia, which was in force after its dissolution. The new Treaty will contribute to the further development of trade and economic relations between the two countries, especially after Croatia’s accession to the European Union.

Based on the Organisation for Economic Co-operation and Development (OECD) Model Tax Convention on Income and on Capital and incorporates all the minimum standards of the Base Erosion Profit Shifting (BEPS) project, as issued by the OECD/G20, the Treaty covers Cyprus income tax, corporate income tax, the special contribution for the defense of the Republic, capital gains tax, providing tax certainty and security to companies, organizations and individuals on the fiscal treatment of their income and capital gains.

For more information, please contact us on [email protected]

Source: Ministry of Finance of the Republic of Cyprus

© all rights reserved 2024