Cyprus Tax News 04 June 2018 – Double Tax Treaty signed with Andorra

On 18 May 2018, Cyprus signed a double tax treaty (DTT) with Andorra, which was published in the Gazette on 1^st of June 2018.

The DTT is based on the OECD Model Convention and provides for NIL withholding tax on interest, dividend and royalty payments.

This DTT will enter into force once both Cyprus and Andorra exchange notifications that their formal ratification procedures have been completed. The provisions of the treaty with respect to taxes will have effect in both contracting states on or after 1 January following the date the treaty enters into force.