Cyprus and Croatia Sign a New Double Tax Treaty

On October 17, 2023, The Agreement for the Elimination of Double Taxation with Respect to Taxes on Income and on Capital and the Prevention of Tax Evasion and Avoidance, and its Protocol between Cyprus and the Republic of Croatia signed in Luxembourg, within the context of the ECOFIN meeting.

The new agreement replaces the existing agreement which was signed back in June 1985, between the Republic of Cyprus and the Socialist Federal Republic of Yugoslavia.

The new agreement is based on the OECD Model Tax Convention on Income and on Capital and incorporates all the minimum standards of the Base Erosion Profit Shifting (BEPS) project, as issued by the OECD /G20.

The new treaty will contribute to the further development of trade and economic relations between the two countries.

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