A strong point for the Cypriot Government
On 9 March 2015, Cyprus signed a Treaty for the avoidance of Double Taxation with the Kingdom of Bahrain, with respect to Taxes on Income.
This Treaty is expected to enhance the development of trade and financial relations between Cyprus, Bahrain, and other countries. It is based on the Model Convention for the Avoidance of Double Taxation of the OECD (OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital), and it will come into effect upon its ratification by both countries.
The updating, maintenance and expansion of the existing network of Double Tax Treaties is of high financial and political importance, and aims at further strengthening and attracting foreign investment and promoting Cyprus as an international business center.