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14 August 2015
Cyprus and Iran recently signed an agreement in Nicosia on the avoidance of double tax and fiscal evasion with regard to income tax, following several years of negotiations. The agreement was signed on August 4 2015 by the Cyprus minister of finance and the Iranian deputy economy minister and head of Iran's tax organisation, who was on an official visit to Cyprus.
The signing of the agreement is the latest step in the government's programme of expanding Cyprus's network of double tax agreements, which currently covers more than 50 countries. The agreement opens up new opportunities for trade and cooperation between the two countries following the lifting of international sanctions against Iran.
A preliminary agreement is already in place for cooperation in the field of energy and a bilateral investment treaty between the two countries was signed in 2009.
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