The recently signed Guernsey – Cyprus double taxation agreement (DTA) will become effective from 1st January 2015. Thereafter it will further contribute to develop the commercial and financial relationship between the two jurisdictions.
The highlights of the DTA are the following rates for withholding:
- Dividends: 0%
- Interest: 0%
- Royalties: 0%
The agreement is a valuable addition to the long list of DTAs Cyprus already has with other countries thus promoting the Republic of Cyprus as an international business center.