LLPO Law Firm
  • Home
    • Law Firm Profile
  • People
    • Michael O. Ioannides >
      • Blog Posts
      • Social
    • Andreas N. Leonidou >
      • Social
    • Christos O. Ioannides >
      • Social
    • Maria Angelides
    • Agathoklis Korellis
    • Andreas Karamanos
    • Nikoletta Agrotou
    • Panayiota Zacharia
    • Marieta Peratikas
    • Rena Afami
    • Yiannis Seraphim
  • Αρχικη
  • ГЛАВНАЯ
  • ΑΝΘΡΩΠΟΙ
  • Litigation
    • Commercial Litigation >
      • People
    • Criminal Litigation >
      • People
    • Personal Injuries >
      • People
    • Banking Litigation >
      • People
    • Class Actions >
      • People
    • Medical Negligence >
      • People
  • Advisory
    • Financial Services >
      • Experience
      • Resources
      • People
    • Corporate >
      • Services
      • Resources
      • People
    • Lotteries, Gaming and Gambling Regulation >
      • Services
    • Educational Services >
      • People
  • Services
    • Alternative Funds (AIF)
    • Mutual Funds (UCITS)
    • Permanent Residence Permit
    • Yacht Leasing Scheme
    • Cyprus International Trusts
    • Cyprus Investment Firms (CIF)
    • Payment Institutions
    • Electronic Money Institutions
  • ΥΠΗΡΕΣΙΕΣ
  • УСЛУГИ
    • Альтернативные Фонды
    • Mutual Funds (UCITS)
    • Паспорт Инвестора ЕС
    • Permanent Residence Permit
    • Yacht Leasing Scheme
    • Cyprus International Trusts
    • Cyprus Investment Firms (CIF)
    • Payment Institutions
    • Electronic Money Institutions
  • Blog
  • Contact
  • Επαφη
  • КОНТАКТЫ
  • Финансовые Услуги
  • Корпоративные Услуги
    • Услуги

Cyprus signed a Double-Tax Treaty with Spain

17/2/2013

0 Comments

 
Picture
Finally, the barrier was lifted as the two countries signed an agreement to be ratified for the avoidance of double taxation. Double taxation is perhaps the most vivid example of a barrier in international relations and economic cooperation, arguably, an unfortunate remnant of the past. Cyprus and Spain signed on 14 February 2013 an agreement to be ratified for the avoidance of double taxation. The new agreement is the result of strong governmental resolution to seal the cooperation bond between the two countries. The agreement was signed at a ceremony held at the residence of Spain’s Ambassador in Nicosia, Ana Salomon Perez and during the addresses of the representatives of the two countries one could certainly realize that we are entering a new era of cooperation, trade and investment between the two countries.

LLPO has a long-standing cooperation with professionals and investors in all major cities in Spain. We literally witnessed the 2006 policy of the Spanish Authorities to reject any private commercial utilization of the structures of the two countries in a single transaction and a unified tax treatment. Even after the amendment of this irrational policy and Cyprus reinstatement from such treatment, back in 2009 we dealt with the commercial difficulties investors and traders faced in attempting to enter into transactions resulting in the moving of funds or services form one country to the other, whereby to benefit from Spain’s participation exemption regime, the taxpayer ought to have been able to demonstrate that there were valid economic and business reasons for operating through a Cypriot company.

As Spain’s Ambassador in Nicosia stated this important new agreement “…will certainly facilitate investments from Spain to Cyprus and from Cyprus to Spain and strengthen economic relations between our two countries”. As she noted “the Spanish authorities showed a considerable amount of flexibility in order to reach an agreement”, expressing the gratitude of the Spanish government particularly of the Minister of Finance and the Minister of Foreign Affairs who made major efforts to complete all necessary domestic procedures so that the signatures could take place before the term in office of Minister of Finance Vassos Sharly and the current government came to an end.

The Cypriot Finance Minister Mr. Vassos Sharly on his part said that “what you need is a commitment that you believe in what you are doing and everything else falls into place”. He said that double tax agreements do not progress simply because you have commitment but you need a partner and in this context “we had a very good partner to work with. We did it and we are doing a lot but we need friends and in Spain we have a very good friends which we always believe in and I hope that this relationship will develop from a double tax agreement at the moment to become a great strength in the relationship between us”, he noted.

LLPO consistent in our pledge to exceed our clients’ expectations, all these years we maintained very close cooperation with Spanish professionals and upgraded our professional network. That’s why LLPO has an extra reason to welcome this long awaited development. Cyprus and Spain may now share each other’s incentives and resources in order to afford traders and investors the freedom to utilize the advantages of each country’s opportunities, without having the concern of the imposition of double taxation. 

LLPO and its expert network are ready to facilitate investors’ and clients’ decisions. , ¿Vamos? 

0 Comments

    Archives

    September 2020
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    August 2018
    July 2018
    June 2018
    March 2018
    October 2016
    September 2016
    November 2015
    October 2015
    September 2015
    April 2014
    March 2014
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    June 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    April 2011
    March 2011
    November 2010

    Categories

    All
    Accident
    Alert
    Andreas Leonidou
    Bail In
    Banking
    Betting
    Business
    CFC
    CHF
    Christos Ioannides
    CIF
    Citizenship
    Company
    Corporate
    Criminal Law
    CSE
    Customs
    Cylon
    Cyprus
    CySEC
    David Anderson
    Depositors
    Dividends
    Double Tax Treaties
    ECM
    Education
    Enviromental
    Eurogroup
    Europe
    Exclusive Economic Zone
    Financial
    Finland
    Foreign Currency
    Forum
    Framework
    Fraud
    Gambling
    Greece
    Health & Safety
    ICIS
    India
    Innovation
    Investors
    IP
    Law
    Lawsuit
    Legislation
    Levy
    Luxemburg
    Maria Panayiotou
    Michael Ioannides
    News
    NOMAD
    Oil And Gas
    Passport
    Portugal
    Property
    Property Rights
    Real Estate
    Residence Permit
    Russia
    Securities
    Spain
    Switzerland
    Tax
    Ukraine
    Unitary Patent
    United Kingdom
    Universities
    VAT
    Yacht

    RSS Feed

Cyprus (Head Office)

15 Agion Omologiton Avenue
1080, Nicosia 

Cyprus
✆ +357 22 452 600 
⎙ +357 22 452 611

Greece

05 Paleologou Street 
18535, Athens 
​
Greece
✆ +30 210 3617152
⎙ +30 210 3617153

United Kingdom

235 Regents Park Road
London N3 3LF 
United Kingdom

✆+44 203 588 4107

Picture
   info@llpolawfirm.com
© 2015 LLPO Law Firm. All Rights Reserved.