On 22 March 2018, officials from Cyprus and the UK signed a new income and capital tax treaty. The treaty will replace the 1974 tax treaty between the two countries that currently applies. Taxes Covered The treaty covers Cyprus income tax, corporate income tax, the special contribution for the Defense of the Republic, and capital gains tax. It covers UK income tax, corporation tax, and capital gains tax. Residence If a company is considered resident in both Contracting States, the competent authorities will determine the company's residence for the purpose of the treaty by mutual agreement. If no agreement is...