Gold Magazine April - May 2013, Issue 25 | Seite 8

Dividends:

up front

Cyprus and Spain
conclude Double
Tax Treaty

A

0% withholding tax
applies if the beneficial
owner is a company (other
than a partnership) holding
at least 10% of the capital
of the company paying
the dividend. A rate of
5% applies in all
other cases.

0%
Interest:

withholding tax.
fter negotiations lasting several years,
a Double Tax Treaty was signed in
February between Cyprus and Spain.
Royalties:
At the signing ceremony, the Spanish
0% withholding tax
Ambassador to Cyprus, Anna Salomon
applies with respect to
Perez, said that the Treaty would facilicopyrights of literary, artistic
tate investments from Cyprus to Spain and vice versa,
or scientific work, including
and that marked a strengthening of economic relations
films, any patent, trademark,
between the two countries. The new Double Tax Treaty
secret formula or process
will enter into force three months after it is ratified.
or information concerning
Until the new agreement takes effect unilateral relief for
industrial, commercial or
scientific experience.
Spanish taxes paid will continue to be available under
domestic tax legislation.
The most significant provisions of the treaty, which
Capital
follows the OECD Model Convention, are shown
Gains:
right:
Gains from the disposal of
immovable property are taxed in
the country in which the immovable
property is situated. Gains from the
disposal of shares or comparable
interests (other than those listed on
the Stock Exchange of either country)
deriving more than 50% of their value
from immovable property, are taxed in
the country in which the immovable
property is situated. Gains from
the disposal of any other type
of shares are taxed in the
country of which the
seller is resident.

The Treaty
will facilitate
investments
from Cyprus
to Spain and
vice versa

Cyprus Business
and Real Estate Forum in Ukraine

A

two-day Business and Real
Estate Forum was held at the Premier Palace Hotel in Kiev, Ukraine
o