2021 Cyprus and Egypt double tax treaty
- Feb 5, 2021
- 1 min read
An amended double tax treaty between Cyprus and Egypt is in effect since the 1st of January of 2021.
The updated treaty was signed in Cairo on 8 October 2019 and incorporates the latest international standards related to the exchange of information, mutual agreement procedure, as well as a principal purpose test, and is expected to further develop and strengthen the commercial and economic relationships between the two countries.
The main provisions of the revised Treaty address various issues such as dividend and interest income, royalties, capital gains, and offshore activities.
The provisions of the double tax treaty are applied on withholding tax on income earned during or after the 1st of January 2021 and, for other taxes, in any amount related to a tax year that begins at or after the 1st of January, 2021.
The double tax treaty that was signed on December 18th, 1993 between the two countries ended on July 31st, 2020, when the new treaty became effective.