On 8 December 2024 the Republic of Cyprus and the Sultanate of Oman signed a Double Tax Treaty (DTT).
The DTT is based on the OECD Model Tax Convention
and the UN Model Tax Agreement and includes all the minimum standards of the
OECD Base Erosion and Profit Shifting (BEPS) project.
As per the press release of the Ministry of
Finance of Cyprus on 11 December 2024, the Agreement reached between the two
countries will contribute to the further development of economic relations and
enhance co-operation in tax matters between the Republic of Cyprus and the
Sultanate of Oman. It also provides tax certainty and security to companies,
organisations and individuals on the fiscal treatment of their income and
capital gains.
Further details will be
reported as they become available.
