Jul 19, 2023

Double Tax Treaty between Cyprus and Oman

Double Tax Treaty between Cyprus and Oman

Following the announcement made by the Minister of Finance, Makis Keravnos, Council of Ministers approved on 19th July 2023 an agreement for double taxation avoidance and the prevention of tax evasion regarding income taxes, as well as the relevant protocol between the Republic of Cyprus and the Sultanate of Oman.

The Minister of Finance added that “the agreement follows the Organisation for Economic Co-operation and Development (OECD) model convention on the avoidance of double taxation and the UN model, incorporating all the minimum requirements concerning bilateral contracts as defined by the actions issued by the OECD against base erosion and profit shifting related to bilateral tax agreements.”

Double Tax Treaty (DTT) between the two countries will contribute to further development of economic cooperation and trade relations.

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