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January 2007: Double Taxation Treaties Update

Baltic States (Estonia, Latvia, Lithuania): The Cyprus Delegation met with the Baltic States (Estonia, Latvia, Lithuania) Delegation in Riga between 24th July 2006 and 28th July 2006 for the second round of negotiations for the conclusion of a Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect of Taxes on Income. There will be a third round in Nicosia at a date yet to be fixed.

Iceland: The Cyprus Delegation met with the Icelandic Delegation in Nicosia between 5th September 2006 and 8th September 2006 for the first round of negotiations for the conclusion of a Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect of Taxes on Income.

India: The Cyprus Delegation met with the Indian Delegation in New Delhi between 16th October 2006 and 20th October 2006. This was the first and final round for the negotiation of a new tax treaty. There is already a treaty in force, signed on 13/6/94 and in force since the year of assessment 1993.

Denmark: The Cyprus Delegation met with the Danish Delegation in Copenhagen between 8th January 2007 and 12th January 2007. This was the first round for the negotiation of a new tax treaty. There is already a treaty in force, signed on 26/5/81 and in force since the year of assessment 1980.

Ukraine: The Cyprus Delegation met with the Ukrainian Delegation in Kiev between 25th October 2006 and 27th October 2006 for the third and final round of negotiations for the conclusion of a Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect of Taxes on Income. The heads of the two Delegations initialled the agreed draft.

Moldova: The Cyprus Delegation met with the Moldova Delegation between 13th November 2006 and 17th November 2006 in the first round of negotiations for the conclusion of a Convention for the Avoidance of Double Taxation with respect to Taxes on Income. The heads of the two Delegations initialled the agreed draft.

Netherlands: The Cyprus Delegation met with the Dutch Delegation in Amsterdam between 27th November 2006 and 29th November 2006 for the conclusion of an agreement for the avoidance of Double Taxation with respect of taxes on Income. The negotiation will continue in Nicosia.