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Luxembourg, Cyprus sign tax treaty

Luxembourg and Cyprus have signed a tax treaty, Luxembourg’s Ministry of Finance announced today.

The agreement was signed in Cyprus by Luxembourg Finance Minister Pierre Gramegna and Cyprus Finance Minister Harris Georgiades.

“I am pleased that the text incorporates the latest international standards for exchange and is already fully taking into account the OECD’s BEPS work, thus providing predictability and legal certainty,” Gramegna said.

Cyprus is the only EU State that does not have an in-force tax treaty with Luxembourg.

Gramegna said that negotiations with Cyprus for a tax treaty have been ongoing since 2007. “It was therefore necessary to speed things up and finally come to a conclusion,” he said.

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