Executive summary
Cyprus’ Double Tax Treaty network has been further expanded with two new tax treaties between Cyprus and Andorra and the Kingdom of Saudi Arabia, respectively. In addition, a Protocol amending the existing treaty with Ukraine is also effective.
This Alert summarizes the key provisions of the new treaties and amending Protocol which are in effect as of 1 January 2020.
Detailed discussion
Treaty with Andorra
The Treaty provides for 0% withholding tax on dividends, interest a…