Also in the news...
UK seeks business views on response to US tariffs
Government begins process seeking business views on response to US tariffs
UK/Viet Nam: Free Trade Agreement
This treaty was presented to Parliament in April 2025.
How AI Is Fueling Creative Innovation for Startups Abroad
When most people think about starting a business overseas, their minds immediately jump to logistics: registering the company, navigating local laws, and finding office space. But one of the most exciting (and often overlooked) aspects of expanding internationally is tapping into the global pool of innovation especially in the realm of artificial intelligence (AI).
Support for UK businesses helping to rebuild Ukraine
Department for Business and Trade (DBT) initiatives to support UK businesses helping to rebuild critical infrastructure in Ukraine.
Now is the time to generate growth together with India
£400m of trade and investment wins from UK-India Economic and Financial Dialogue set to boost the British economy.
Cyprus expands its Double Tax Treaty network with Lithuania & Guernsey
Cyprus, which has been long established as a solid economic and business centre worldwide, seeks to reinforce its title as a beneficial investment hub by expanding its double tax treaty network and creating stronger economic and trade relations with other Contracting States.
Double Taxation Agreement between Cyprus and Lithuania
In June 21st, 2013, Cyprus and Lithuania signed their first Double Tax Treaty. Since then, they ratified their Agreement and the new Agreement will enter into force on the 1st day of January 2015.
In summary the new provisions of the ratified agreement are:
- Dividends: No withholding tax (0%) where the recipient is a company and
- is the beneficial owner of the dividends
- owns at least (minimum) 10 % capital of the company; in a different case a 5% withholding tax shall be applicable
- Interest: No withholding tax (0%)
- Royalties: 5% withholding taxprovided that the recipient is be the beneficial owner
- Capital Gains: gains, resulting from the disposal of shares, are taxable in the country in which the alienator of the shares is tax resident
Double Taxation Agreement between Cyprus and Guernsey
On 15 July 2014 Cyprus and Guernsey signed a double taxation avoidance Agreement, which will enter into force upon the ratification of the Agreement by the two Contracting States. The Agreement is based on the OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital.
Briefly the main provisions of the Agreement between the two Contracting States:
- Dividends: 0% withholding tax
- Interest: 0% withholding tax
- Royalties: 0% withholding tax
- Capital Gains: - gains, resulting by a resident of one of the two countries (ex. A), from the disposal of immovable property in the other country (ex. B), will be taxed in the country where immovable property is situated (ex. B).
– gains, resulting from the disposal of shares, are taxable in the country in which the alienator of the shares is tax resident.