Applying the full information exchange clause

The protocol introduced far-reaching changes with reference to exchange of information between the parties of the double taxation convention.

According to art. 11 of the protocol, modified art. 27 of the double taxation convention will expand the range of subjects obliged to transfer information concerning holding companies registered in the territory of The Republic of Cyprus. Introduced in this way changes will allow to obtain information on residents of the Cypriot company with the seat in the territory of Cyprus.