On the 8th of October 2019, Cyprus and the Arab Republic of Egypt have signed a new Double Tax Treaty between them, which will update the existing Double Tax Treaty that was signed on 19/12/1993 and which had entered into force on 14/3/1995.
Until the necessary ratification steps are taken by both of these Countries in order for the Treaty to enter into force, the existing Double Tax Treaty between Cyprus and the Arab Republic of Egypt will continue to have effect.
According to the Ministry of Finance (MoF) the Convention is based on the new OECD Model Convention for the Avoidance of Double Taxation on Income and on the UN Model Tax Convention and it will contribute to further develop the economic relationship and to enhance the co-operation in tax matters between these two Countries.
For the moment there has been no publication of the new Double Tax Treaty in the official Gazette.
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