Cyprus to be removed from Italy’s ‘blacklist’
Limassol, June 2009 -- Cyprus and Italy recently signed an additional protocol on the avoidance of double taxation, which will remove Cyprus from the so-called ‘black list’ of Italy, thus solving pending tax issues of the past seven years between the two states.

The development paves the way for Italian investors who can now make their investments in the Russian, Eastern European and other markets through Cyprus.

The additional protocol of the Convention on the Avoidance of Double Taxation between the two states provides for the exchange of bank and other information based on the Convention on the Avoidance of Double Taxation of the OECD.

 

For more information, contact Andis P. Petrou at This e-mail address is being protected from spambots. You need JavaScript enabled to view it