Cyprus has agreed with many countries worldwide in treaties to mitigate the effects of double taxation (double tax treaties). Such Tax treaties may cover income taxes, inheritance taxes, value added taxes, as well as other taxes. Besides bilateral treaties, also multilateral countries are in place: Countries of the European Union (EU) have also entered into a multilateral agreement with respect to value added taxes under auspices of the EU, while a joint treaty of the Council of Europe and the OECD exists open to all nations. Tax treaties tend to reduce taxes of one treaty country for residents of the other treaty country in order to reduce double taxation of the same income.
The official Double Tax Agreements concluded and their respective date of enforcement between Cyprus and other countries worldwide can be found on the official website of the Ministry of Finance.