The Sultanate of Oman and the Republic of Ireland today signed in Muscat an agreement for the avoidance of double taxation. The agreement pertains to taxes on income and the prevention of tax evasion between the governments of the two countries.
The agreement provides legal protection for investors, to spare them the imposition of double taxes. It also regulates the mechanisms of tax application in a manner that enhances investments and trade exchange between the two countries.
The agreement was signed by Nasser Khamis Al Jashmi, Chairman of the Tax Authority, and Gerard Cunningham, Ambassador of the Republic of Ireland to the Sultanate of Oman.
Cyprus has recently enacted important tax measures that restrict the deductibility of certain expenses involving entities established in jurisdictions considered “non-cooperative” or “low tax.”
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