The Cyprus Tax Department announced on February 18^th of 2019 that the Double Taxation Treaty which was signed between Cyprus and Saudi Arabia on January 3^rd of 2018 will come into effect as of March 1^st 2019.

The provisions of this Treaty and the relevant Protocol apply to: 

• Tax which is withheld at the source, or to amounts which are paid or credited to, during or after January 1^st, 2020;

• Taxes, or amounts of any other tax year, commencing during or after January 1^st of the year 2020.

The description of the Treaty and Protocol may be accessed on the Tax Department’s website at this link: www.mof.gov.cy/tax