The amending protocol to the 2011 income and capital tax treaty between Cyprus and Germany was signed on 19 February 2021. The protocol 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 that a benefit under th…