New Tax Treaty and Tribunal for Cyprus
Cyprus and Belgium have
ratified a new tax treaty between the two countries and the
Cyprus Government has announced the establishment of a long awaited
Tax Tribunal. On the 8th of December
a new taxation treaty between Cyprus and Belgium will come
into effect. The treaty will prevent double taxation and tax evasion
on income and capital tax. The Tax Tribunal has been established
to help resolve disputes between taxpayers and the state and provides
a long overdue appeals mechanism. By filling the gap between the
Inland Revenue Service and the Supreme Court, the Tax Tribunal
should help speed up the resolution of disputes. The Tax Tribunal
will start operating from January 2000. .
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