On Monday, December 20, a representative of the Government of Cyprus said that during the official visit of King Abdullah II bin Hussein al-Hashimi of Jordan to the island, an agreement on avoidance of double taxation and prevention of income tax evasion between the two countries was signed.
On the Cypriot side, the documents were certified by Finance Minister Constantinos Petrides, the representative of Jordan was Foreign Minister Ayman Hussein Abdullah al-Safadi.
It is expected that the new agreement will contribute to the further development of economic relations and strengthen cooperation in the tax sphere, as well as provide certainty and security for companies, organizations and individuals regarding the tax regime of their income and capital gains.
During the closed meeting, an agreement on the extradition of fugitives from justice and a memorandum on development cooperation between the Ministries of Foreign Affairs were also signed.
The Cyprus Finance Ministry stressed that the expansion and updating of the network of double taxation conventions is aimed at further promoting Cyprus as an international business center.
The Middle East and Gulf regions are important partners of Cyprus in terms of investment cooperation, so we intend to intensify our efforts in these markets in the near future. We are confident that our country can become an ideal place to enter the European market. Cyprus has already established itself not only as a regional business and financial center, but also an excellent location for investment," Petrides said.
The Office of the President of Cyprus also reported that Anastasiades and Abdullah II first held a personal meeting, and then took part in expanded negotiations between the delegations of the two countries.
During the latter, bilateral relations between Nicosia and Amman, the development of the situation around the Cyprus problem, measures to eliminate the consequences of climate change and the coronavirus pandemic, a plan to combat climate change for the countries of the Eastern Mediterranean and the Middle East developed at the initiative of the President of Cyprus, as well as developments in the region where Cyprus and Jordan are located were discussed.