Connect with us

Top Stories

DTT BETWEEN CYPRUS AND BARBADOS HAS ENTERED INTO FORCE

DTT BETWEEN CYPRUS AND BARBADOS HAS ENTERED INTO FORCE

On May 2017 an agreement was signed between the Republic of Cyprus and Barbados for the avoidance of double taxation. This double tax treaty is based on the general model of the Organisation for Economic Co-operation and Development (OECD). The ratifications of the treaty were finalised and the double tax treaty entered into force on 1 January 2018.

The main provisions of the agreement are as follows:

Permanent Establishment: The permanent establishment describes a building site, a construction, assembly or installation project or supervisory activities in connection therewith, and is considered as a ‘permanent establishment’ only if it lasts longer than 6 months.

Dividends:  The double tax agreement eliminates withholding taxes on dividends, interest and royalties paid by a resident of one country to a resident of the other, as long as the royalties and interest are no more than would apply on an arm’s-length principle.

Capital gains: Capital gains derived by the disposal of immovable property and sale of shares of companies are taxed in the country where the seller is located.

With holding taxesThere is 0% withholding tax on

  • Dividends
  • Interest
  • royalties

Our tax experts can provide you with further detailed information and tax advice, regarding the above tax treaty and the extensive network of double tax treaty agreements that have been signed by Cyprus government now equating to over 60.

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Recommended

Newsletters with Secrets & Analysis. Subscribe Now