Double Taxation Convention between Cyprus and Barbados

by:MICHAEL KYPRIANOU & CO LLC

On 3 May 2017 an Agreement was signed between the Republic of Cyprus and Barbados for the Avoidance of Double Taxation and the Prevention of Tax Evasion with respect to taxes on income.

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

This Agreement is expected to contribute to the further development of trade and economic relations between the two countries. In addition, the Agreement aims to further attract foreign investment to Cyprus as well as to promote Cyprus as an international business centre.