Tax Treaty between Cyprus and Kuwait has Entered into Force

According to a recent update from the Cyprus Ministry of Finance, the new income tax treaty with Kuwait entered into force on 30 August 2013. The treaty, signed 5 October 2010, replaces the 1984 tax treaty between the two countries.

Taxes Covered

The treaty covers Cyprus income tax, corporate income tax, special contribution for the Defense of the Republic, and capital gains tax. It covers the following Kuwaiti taxes:

• Corporate income tax;
• The contribution from the net profits of the Kuwai…