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Network of Double Tax Treaties

NETWORK OF DOUBLE TAX TREATIES
 
A table with the applicable withholding taxes on dividends, interest and royalties, in accordance with the relevant double tax treaties concluded between Cyprus and the following countries:
 
Received in Cyprus
 
 
                          Dividends
%
  Interest
%
Royalties
%
 
Armenia (20) 0 0 0
Austria 10 0 0
Belarus 5 (18) 5 5
Belgium 10 (8) 10 (6,19) 0
Bulgaria 5 (23) 7 (6,24) 10 (24)
Canada 15 15 (4) 10 (5)
China 10 10 10
Czech Republic 0 (30) 0 0 (31)
Denmark 10 (8) 10 (6) 0
Egypt 15 15 10
France 10 (9) 10 (10) 0 (3)
Germany 10 (8) 10 (6) 0 (3)
Greece 25 (11) 10 0 (12)
Hungary 5 (8) 10 (6) 0
India 10 (9) 10 (10) 15 (15)
Ireland 0 0 0 (12)
Italy 15 10 0
Kuwait 10 10 (6) 5 (7)
Kyrgyzstan (20) 0 0 0
Lebanon 5 5 0
Malta 0 10 10
Mauritius 0 0 0
Moldova  5 (28) 5 5
Montenegro(26) 10 10 10
Norway 0 (13) 0 0
Poland 10 10 (6) 5
Romania 10 10 (6) 5 (7)
Russia 5 (17) 0 0
San Marino 0 0 0
Serbia (26) 10 10 10
Seychelles 0 0 5
Singapore 0 10 (6,25) 10
Slovakia 10 10 (6) 5 (7)
Slovenia (26) 10 10 10
South Africa 0 0 0
Sweden 5 (8) 10 (6) 0
Syria 0 (8) 10 (4) 10
Tajikistan (20) 0 0 0
Thailand 10 15 (21) 5 (22)
Ukraine (20) 0 0 0
United Kingdom 15 (14) 10 0 (3)
United States of America 5 (9) 10 (10) 0
 
 
Paid from Cyprus
 
                          Dividends
%
  Interest
%
Royalties
%
 
  Non treaty countries 0 0 0 (2)
Armenia (20) 0 0 0
Austria 10 0 0
Belarus 5 (18) 5 5
Belgium 10 (8) 10 (6,19) 0
Bulgaria 5 (23) 7 (6) 10 
Canada 15 15 (4) 10 (6)
China 10 10 10
Czech Republic 0 (30) 0 0 (31)
Denmark 10 (8) 10 (6) 0
Egypt 15 15 10
France 10 (9) 10 (10) 0 (3)
Germany 10 (8) 10 (6) 0 (3)
Greece 25  10 0 (12)
Hungary 0 10 (6) 0
India 10 (9) 10 (10) 15 (16)
Ireland 0 0 0 (12)
Italy 0 10 0
Kuwait 0 0 0
Kyrgyzstan (20) 0 0 0
Lebanon 5 5 0
Malta 15 10 10
Mauritius 0 0 0
Moldova(27)  5 (28) 5 5
Montenegro(26) 10 10 10
Norway 0 0
Poland 10 10 (6) 5
Romania 10 10 (6) 5 (7)
Russia 5 (17) 0 0
San Marino 0 0 0
Serbia (26) 10 10 10
Seychelles 0 0 5
Singapore 0 10 (6,25) 10
Slovakia 10 10 (6) 5 (7)
Slovenia (26) 10 10 10
South Africa 0 0 0
Sweden 5 (8) 10 (6) 0
Syria 0 (8) 10 10
Tajikistan (20) 0 0 0
Thailand 10 15 (21) 5 (22)
Ukraine (20) 0 0 0
United Kingdom 0 10 0 (3)
United States of America 0 10 (10) 0


Notes:
(1) Under Cyprus legislation there is no withholding tax on dividends, interest and royalties paid to non-residents of Cyprus.

(2) In case where royalties are earned on rights used within Cyprus there is withholding tax of 10%.

(3) 5 per cent on film and TV royalties.

(4) Nil if paid to a Government or for export guarantee.

(5) Nil on literary, dramatic, musical or artistic work.

(6) Nil if paid to the Government of the other state.

(7) This rate applies for patents, trademarks, designs or models, plans, secret formulas or processes, or any industrial, commercial or scientific equipment, or for information concerning industrial, commercial or scientific experience.

(8) 15 per cent if received by a company controlling less than 25 per cent of the voting power

(9) 15 per cent if received by a company controlling less than 10 per cent of the voting power

(10) Nil if paid to a Government, bank or financial institution

(11) The treaty provides for withholding taxes on dividends but Greece does not impose any withholding tax in accordance with its own legislation

(12) 5 per cent on film royalties

(13) 5 per cent if received by a company controlling less than 50 per cent of the voting power

(14) This rate applies to individual shareholders regardless of their percentage of shareholding.

Companies controlling less than 10 per cent of the voting shares are also entitled to this rate

(15) 10 per cent for payments of a technical, managerial or consulting nature.

(16) Treaty rate 15 per cent, therefore restricted to Cyprus legislation rate

(17) 10 per cent if dividend paid by a company in which the beneficial owner has invested less than US$100.000.

(18) If investment is less than 200.000 euro, dividends are subject to 15 per cent withholding tax which is reduced to 10 per cent if the recipient company controls 25 per cent or more of the paying company.

(19) No withholding tax for interest on deposits with banking institutions.

(20) Azerbaijan, Armenia, Kurghystan, Moldova, Tajikistan, Ukraine and Uzbekistan apply the USSR/Cyprus treaty.

(21) 10 per cent on interest received by a financial institution or when it relates to sale on credit of any industrial, commercial or scientific equipment or of merchandise.

(22) This rate applies for any copyright of literary, dramatic, musical, artistic or scientific work. A 10 per cent rate applies for industrial, commercial or scientific equipment. A 15 per cent rate applies for patents, trademarks, designs or models, plans, secret formulae or processes.

(23) This rate applies to companies holding directly at least 25 per cent of the share capital of the company paying the dividend. In all other cases the withholding tax is 10 per cent.

(24) This rate does not apply if the payment is made to a Cyprus international business entity by a resident of Bulgaria owning directly or indirectly at least 25% of the share capital of the Cyprus entity. This provision is now ineffective since the Cyprus tax regime does not allow for international business companies as from 1 January 2003. The transitional period for existing international business companies expires on 31 December 2005.

(25) 7 per cent if paid to bank or financial institution.

(26) Slovenia and Serbia/Montenegro apply the Yugoslavia/Cyprus treaty.
 
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