Cyprus reportedly ratified the amending protocol to the 2011 income and capital tax treaty with Germany on 5 March 2021. The protocol, signed 19 February 2021, is the first to amend the treaty and includes the following changes:
- The preamble is replaced in line with OECD standards;
- Article 7 (Business Profits) is replaced with updated provisions in line with OECD standards;
- Article 27 (Application of the Agreement in Special Cases) is amended with the addition of a second paragraph providing…