- February 5, 2018
- Posted by: CIP Journal
- Category: Uncategorized
On October 23rd, 2017 at Pretoria in South Africa the Protocol amending the Convention for the Avoidance of Double Taxation and the prevention of fiscal evasion with respect on taxes, on income and on capital signed on 21st January 2000, at Nicosia, between the Republic of Cyprus and the Republic of Mauritius was signed.
The Amending Protocol brings in line the provisions concerning the exchange of information regarding taxes in the current Agreement with the OECD Model Convention on the Avoidance of Double Taxation on Income.
Following the entry into force of the amending Protocol, an effective exchange of information based on the international tax model between the tax authorities of the two countries will become operational, and is expected to contribute further to the prevention of international tax evasion and tax abuse.
The agreed text between the two negotiating groups of the two states will contribute to the further strengthening of trade and economic relations between the two States.
Cyprus lately also signed double taxation avoidance and tax evasion agreement with Saudi Arabia.