A double taxation agreement between Cyprus and Estonia was signed on October 15th 2012 and the agreement was approved by the Estonian Parliament on September 25th 2013. The Cyprus government ratified the agreement in February 2013.
The agreement will enter into force when the governments of the two countries have exchanged formal notifications that the relevant constitutional requirements have been complied with. The provisions of the agreement will take effect from the 1st of January 2014.
The new agreement with Estonia follows the latest Organisation for Economic Cooperation and Development Model Treaty, in this case the 2010 version.
This is the first double tax treaty between the two countries and marks a very positive development which will assist in strengthening the financial ties between Cyprus and Estonia and increase investments between the two countries.