According to the information published by the Estonian Ministry of Finance, Estonia and Cyprus initialled a tax treaty on 16 February 2011. Further details will be reported subsequently.

On 27 February 2011, Cyprus and United Arab Emirates signed an income tax treaty in Abu Dhabi. The agreement aims to enhance cooperation and partnership in trade and tourism and the development of the air transport sector. Further details of the treaty will be reported subsequently.

On 18 February 2011, Cyprus and Germany signed a tax treaty in Nicosia, Cyprus. Once in force, the new treaty will replace the Germany – Cyprus income and capital tax treaty of 9 May 1974. Further details of the new treaty will be reported subsequently

On 22 February 2011, the European Commission launched a public consultation on the taxation of the financial sector, to receive feedback on the ideas set out in the Commission’s Communication published on 7 October 2010. The Commission would like to collect views from market participants, regulators, social partners, NGOs and other stakeholders on the impact [...]

An Agreement between the Republic of Cyprus and the Republic of Armenia for the Avoidance of Double Taxation was signed on 18th of January 2011. Currently the agreement dated 29 November 1982 between Cyprus and the USSR which was adopted by Armenia remains into force, and will continue to do so until the new agreement [...]

The Cyprus Parliament has voted several amendments to certain tax legislative provisions of Cyprus law in an effort to combat on tax evasion and tax clearance. Also the VAT rate on food and medicines has been increased from zero to 5%. At every extent the amendments are considered an enhancement of the existing Cyprus legislation. [...]

An Agreement between the Republic of Cyprus and the Kingdom of Denmark for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income was signed on 11 October 2010 in Copenhagen. According to an official announcement, the new Agreement will contribute greatly to the further development of trade [...]

An Agreement between the Republic of Cyprus and Slovenia for the Avoidance of Double Taxation was signed on 12 October 2010. On the date the new Agreement is been ratified by both countries, the provisions of the existing treaty dated 1985 between the Government of the Republic of Cyprus and Slovenia will expire. Withholding Tax [...]

An Agreement between the Republic of Cyprus and Kuwait for the Avoidance of Double Taxation was signed on 5 October 2010. On the date the new Agreement is been ratified by both countries, the provisions of the existing treaty dated 1984 between the Government of the Republic of Cyprus and Kuwait will expire. Withholding Tax [...]

Under the Italian CFC rules, where an Italian shareholder has a controlling shareholding or a participation of more than 20% in the profits of a company resident or located in a country included in the blacklist, the profits of the foreign company are attributed to the Italian shareholder in proportion to the shareholding, irrespective the [...]