Oman, Cyprus sign agreement to avoid double taxation

Muscat : The governments of the Sultanate of Oman and the Republic of Cyprus signed in Muscat today an agreement to avoid double taxation and prevent financial evasion with respect to taxes on income.

The agreement was signed on behalf of the Government of the Sultanate of Oman by His Excellency Nasser bin Khamis Al Jashmi, Chairman of the Tax Authority, and on behalf of the Government of the Republic of Cyprus by His Excellency Andreas Kakouris, Permanent Secretary of the Ministry of Foreign Affairs of Cyprus.

The agreement aims to encourage investments, strengthen economic relations between the two countries, enhance the economic reputation of the Sultanate of Oman, provide legal protection for investors from double taxation, and regulate tax collection.