Cyprus and Sweden Sign Protocol Amending Double Taxation Agreement

July 3, 2026

Cyprus and Sweden signed a protocol in Nicosia to update their existing double taxation agreement concerning income taxes. This amendment integrates minimum standards from the OECD's Base Erosion and Profit Shifting (BEPS) initiative and includes provisions for exchanging tax information, aiming to enhance Cyprus's appeal as an international business hub. The protocol will become effective upon the completion of ratification procedures by both nations, addressing constitutional issues Sweden faced regarding the Multilateral Instrument (MLI) and reinforcing tax transparency and compliance.