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Cyprus and the Netherlands have successfully concluded negotiations on a Double Taxation Treaty concerning Curacao, a Caribbean island that is part of the Kingdom of the Netherlands.
The Finance Ministry of Cyprus announced the development on the social media platform X, stating, “Concluded today the Convention between the Republic of Cyprus and the Kingdom of the Netherlands, in respect to Curacao for the Elimination of Double Taxation concerning Taxes on Income and the Prevention of Tax Evasion and Avoidance.”
This treaty aims to eliminate the issue of double taxation for individuals and businesses operating between Cyprus and Curacao. Doing so is expected to encourage investment and economic activity between the two jurisdictions, providing clarity and certainty in tax matters for businesses and residents.
The convention is anticipated to be signed later, marking a significant step in strengthening economic relations between Cyprus and the Netherlands, particularly concerning Curacao, which has its own tax regime.
The agreement is part of Cyprus’s broader efforts to enhance its tax framework and promote itself as a competitive business hub. The country has been actively engaging in similar treaties with various nations to prevent tax evasion and foster international economic cooperation.
Further details regarding the provisions of the treaty will be made available once it is signed. The Finance Ministry emphasized the importance of this development in the context of international tax relations and its potential benefits for the Cypriot economy.
