The Protocol amending the Convention for the Avoidance of Double Taxation with respect to Taxes on Income was signed on May 19th 2017 in Nicosia. On behalf of the Republic of Cyprus Mr. Ioannis Kasoulidis, Minister of Foreign Affairs of the Republic of Cyprus signed the Protocol and on behalf of the Republic of San Marino the Protocol was signed by Mr. Nicola Renzi, Minister of Foreign Affairs.
The text agreed between the two Contracting States, will contribute to further develop trade and economic links between Cyprus and San Marino while enabling the enhancement of links with other Jurisdictions.
Upgrading and expanding the network of Double Tax Conventions, is of high economic and political importance as it facilitates the further strengthening and attracting foreign investments to Cyprus and from Cyprus, as its standing as an international business center is elevated.
The Government will continue to actively expand the already wide Double Taxation network of Cyprus, thereby enhancing the attractiveness of doing business from Cyprus.
