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DOUBLE TAXATION TREATIES OF CYPRUS
Cyprus has a Double Taxation Treaty with the following countries:
- Armenia
- Austria
- Azerbaijan
- Belarus
- Belgium
- Bulgaria
- Canada
- China P.R.
- Czech Republic
- Denmark
- Egypt
- France
- Germany
- Greece
- Hungary
- India
- Ireland
- Italy
- Kuwait
- Kyrgyztan
- Malta
- Mauritius
- Moldova
- Montenegro
- Norway
- Poland
- Romania
- Russia
- Serbia
- Singapore
- Slovakia
- Slovenia
- South Africa
- Sweden
- Syria
- Tajikistan
- Thailand
- U.S.A.
- Ukraine
- United Kingdom
- Uzbekistan
- Yugoslavia
Double taxation treaties with Kazakztan and Finland are currently being negotiated.
Treatment of income related to Dividends – Royalties – Interest (taxable in the country of residence; tax credit being allowed for foreign tax).
| Received in Cyprus |
Dividends% |
Royalties% |
Interest% |
| 1.Armenia |
NIL |
NIL |
NIL |
| 2.Austria |
10 |
NIL |
NIL |
| 3.Azerbaijan |
NIL |
NIL |
NIL |
| 4.Belarus |
5(j) |
5 |
5 |
| 5.Belqium |
10(d) |
NIL |
10(g,l)(k) |
| 6.Bulgaria |
5(c) |
10(l) |
7(g,l)(l) |
| 7.Canada |
15 |
10 |
15 |
| 8.China |
10 |
10 |
10 |
| 9.Czech Republic |
10 |
NIL |
10(g,l) |
| 10.Denmark |
15 |
NIL |
10(g,l) |
| 11.Egypt |
15 |
10 |
15 |
| 12.France |
15(f) |
NIL(b.1) |
10(g,l) |
| 13.Germany |
10(d) |
NIL(b.1) |
10(g,l) |
| 14.Greece |
25(n) |
NIL(b.2) |
10 |
| 15.Hungary |
5(d) |
NIL |
10(g.1) |
| 16.India |
10(e) |
15(p) |
10(g.1) |
| 17.Ireland |
NIL |
NIL(b.2) |
NIL |
| 18.Italy |
15 |
NIL |
10 |
| 19.Kuwait |
10 |
5 |
10(g.1) |
| 20.Kyrgystan |
NIL |
NIL |
NIL |
| 21.Malta |
NIL |
10 |
10 |
| 22.Mauritus |
NIL |
NIL |
NIL |
| 23.Moldova |
NIL |
NIL |
NIL |
| 24.Montenegro |
10 |
10 |
10 |
| 25.Norway |
NIL(m) |
NIL |
NIL |
| 26.Poland |
10 |
5 |
10(g.1) |
| 27.Romania |
10 |
NIL(b.3) |
10(g.1) |
| 28.Russia |
5(q) |
NIL |
NIL |
| 29.Serbia |
10 |
10 |
10 |
| 30.Singapore |
NIL |
10 |
10(g.1)(r) |
| 31.Slovakia |
10 |
5 |
10(g.1) |
| 32.Slovenia |
10 |
10 |
10 |
| 33.South Africa |
NIL |
NIL |
NIL |
| 34.Sweden |
5 |
NIL |
10(g.1) |
| 35.Syria |
NIL(d) |
10 |
10(g.3) |
| 36.Tajikistan |
NIL |
NIL |
NIL |
| 37.Thailand |
10 |
5 |
15(s) |
| 38.Ukraine. |
NIL |
NIL |
NIL |
| 39.United Kingdom |
15(a) |
NIL(b.1) |
10 |
| 40.USA |
5(e) |
NIL |
10(g.2) |
| 41.Uzbekistan |
NIL |
NIL |
NIL |
| 42.Yugoslavia |
10 |
10 |
10 |
| Paid from Cyprus to: |
Dividends% |
Royalties% |
Interest% |
| Non Treaty Countries |
NIL |
NIL |
NIL |
| 1.Armenia |
NIL |
NIL |
NIL |
| 2.Austria |
10 |
NIL |
NIL |
| 3.Azerbaijan |
NIL |
NIL |
NIL |
| 4.Belarus |
5(j) |
5 |
5 |
| 5.Belqium |
10(d) |
NIL |
10(g,1)(k) |
| 6.Bulgaria |
5(c) |
10 |
7(g,1) |
| 7.Canada |
15 |
10(i) |
15(g,1) |
| 8.China |
10 |
10 |
10 |
| 9.Czech Republic |
NIL |
NIL |
10(g,1) |
| 10.Denmark |
10 |
NIL |
10(g,1) |
| 11.Egypt |
15 |
10 |
15 |
| 12.France |
15(f) |
NIL(b.1) |
10(g,1) |
| 13.Germany |
25 |
NIL(b.2) |
10 |
| 14.Greece |
10(d) |
NIL(b.1) |
10(g.1) |
| 15.Hungary |
NIL |
NIL |
10(g.1) |
| 16.India |
10(e) |
15 |
10(g.1) |
| 17.Ireland |
NIL |
NIL(b.2) |
NIL |
| 18.Italy |
NIL |
NIL |
10 |
| 19.Kuwait |
10 |
5 |
10(g.1) |
| 20.Kyrgystan |
NIL |
NIL |
NIL |
| 21.Malta |
15 |
10 |
10 |
| 22.Mauritus |
NIL |
NIL |
NIL |
| 23.Moldova |
NIL |
NIL |
NIL |
| 24.Montenegro |
10 |
10 |
10 |
| 25.Norway |
NIL |
NIL |
NIL |
| 26.Poland |
10 |
5 |
10(g.1) |
| 27.Romania |
10 |
NIL(b.3) |
10(g.1) |
| 28.Russia |
5(q) |
NIL |
NIL |
| 29.Serbia |
10 |
10 |
10 |
| 30.Singapore |
NIL |
10 |
10(g.1)(r) |
| 31.Slovakia |
10 |
5 |
10(g.1) |
| 32.Slovenia |
10 |
10 |
10 |
| 33.South Africa |
NIL |
NIL |
NIL |
| 34.Sweden |
5 |
NIL |
10(g.1) |
| 35.Syria |
NIL(d) |
10 |
10 |
| 36. Tajikistan |
NIL |
NIL |
NIL |
| 37.Thailand |
10 |
5 |
15(s) |
| 38.Ukraine. |
NIL |
NIL |
NIL |
| 39.United Kingdom |
NIL |
NIL(b.1) |
10 |
| 40.USA |
NIL |
NIL |
10(g2) |
| 41.Uzbekistan |
NIL |
NIL |
NIL |
| 42.Yugoslavia |
10 |
10 |
10 |
*SEE NOTES OVERLEAF
*NOTES:
- This rate applies to individual shareholders regardless of their percentage of shareholding. Companies controlling less than 10% of the voting shares are also entitled to this rate.
- (1) 5% on TV and film royalties.
(2) 5% on film royalties
(3) 5% on patent royalties
- 10% if the recipient company holds at least 10% of the capital of the paying company.
- 15% if received by a company controlling less than 25% of the voting power.
- 15% if received by a company controlling less than 10% or more of the voting power.
- 10% if received by a company controlling 10% or more of the voting power.
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1. Nil if paid to the Government of the other state
2. Nil if paid to a Government, Bank or Financial Institution
3. Nil if paid to a Government or for export guarantee
- 1. If controlling 25% or more of the voting power
2. If controlling less than 25% of the voting power
- Nil on literary, dramatic, musical or artistic work.
- If investment is less that €200,000 dividends are subject to 15% withholding tax which is reduced to 10% if the recipient company controls 25% or more of the paying company.
- No withholding tax for interest on deposits with banking institutions.
- This rate does not apply if the payment is made to a Cyprus company by a Bulgarian resident owing directly or indirectly at least 25% of the share capital of the Cyprus company.
- 5% if received by a company controlling less than 50% of the voting power
- The treaty provides for withholding taxes on dividends, but Greece does not impose any withholding taxes in accordance with its own legislation.
p. 10% for payments of a technical, managerial or consulting nature.
q. 10% if dividend paid by a company in which the beneficial owner has invested less than US$100,000
r. 7% if paid to a Bank or financial institution
s. 10% on interest received by a financial institution or when it relates to sale on credit of any industrial,
commercial or scientific equipment or merchandise.
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