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Cyprus and Germany sign protocol to amend tax treaty

The existing tax treaty between Cyprus and Germany has been amended On February 19 2021, a new protocol was signed (protocol), amending the existing tax treaty between Cyprus and Germany (the treaty). Following a decision of the Minister of the Council dated October 23 2019, the signed protocol was published in the Official Gazette of Cyprus in accordance with the provisions of Article 169.3 of the Cyprus Constitution. Changes to the tax treaty The new protocol introduces, among others, the OECD BEPS minimum standards dealing with treaty shopping and other amendments that have been bilaterally agreed upon Incorporation of the preamble As part of the BEPS package, Action 6 sets out one of the four BEPS minimum standards, dealing with treaty shopping. Specifically, according to the OECD BEPS project, it requires jurisdictions to include two components in their tax agreements: an express statement on non-taxation (generally in the preamble) and one of three methods of addressing tr

The Netherlands and Chile Sign a Tax Treaty

The Netherlands and Chile Sign a Tax Treaty Tuesday, March 16, 2021 Introduction The Netherlands has a broad tax treaty network. However, a tax treaty between the Netherlands and the Republic of Chile was never signed – until now. On Jan. 25, 2021, the Netherlands and Chile signed a convention for the elimination of double taxation with respect to taxes on income, capital, and the prevention of tax evasion and avoidance (the Treaty). The Treaty contains clauses to prevent tax avoidance and the payment of double taxation. Currently, there is no official date as to when the Treaty will enter into force, but it will be after parliamentary ratification and the exchange of ratification instruments between the contracting states.

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