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New Tax Treaty and Tribunal for Cyprus

Tax-news.com

05 December 1999


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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