Cyprus and Jersey sign agreement on avoidance of double taxation on income

Cyprus and Jersey have signed an agreement on the Avoidance of Double Taxation on Income.

According to an announcement by the Ministry of Finance, the text agreed between the two negotiating teams of the two countries will contribute to further developing trade and economic relations between Cyprus and Jersey as well as with other countries.

The Ministry also notes that updating, maintenance and expansion of existing agreements’ network on double taxation, which is of great economic and political importance, aims to enhance and attract foreign investment and promote Cyprus as an international business center.

The agreement is based on OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital.

The agreement was signed last Monday.