Cyprus has a tax treaty with about 40 countries around the world ensuring that doing business with these countries is tax efficient. New links are continuously being forged with the constant conclusion of new tax treaties and similar agreements. Recently a new treaty has been signed with the Czech Republic and new Protocols with Russia and Italy agreed - making business relations with these countries more advantageous than before.
The main purpose and function of these treaties is the avoidance of double taxation on income earned in any of these countries.
The Following is a list of countries that have double tax treaties with Cyprus although not all may have been ratified at the time of writing: