Cyprus–Saudi Arabia: double tax agreement

Posted on 05 Jan 2018

On 3 January 2018 an agreement was signed between Cyprus and the Kingdom of Saudi Arabia, for the avoidance of double taxation and the prevention of fiscal evasion in respect of taxes on income.

This agreement aimed to further develop trade and economic relations between the two countries.

The Agreement is based on the OECD Model Tax Convention for the Avoidance of Double Taxation on Income and on Capital and also allows the exchange of financial/banking and other confidential information in accordance with the relevant Article of the said Model.