Cyprus and Oman sign an agreement to avoid double taxation in order to increase investment.

A deal to end double taxation and stop income tax evasion was inked in Muscat between Oman and the Republic of Cyprus.

Muscat: The agreement, finalized in a ceremony today, was signed by His Excellency Nasser bin Khamis Al Jashmi, Chairman of the Tax Authority of Oman, and His Excellency Andreas Kakouris, Permanent Secretary of the Ministry of Foreign Affairs of Cyprus.

Designed to encourage investments and deepen economic cooperation, the pact provides legal safeguards against double taxation and outlines regulations for tax collection. Officials emphasized that the agreement not only aims to enhance bilateral trade and financial exchanges but also strengthens Oman’s economic reputation on the global stage.

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