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Cyprus approved an income tax treaty with Jordan on December 31, 2021.

This is the first treaty between these two countries, and it was signed on December 17, 2021. It is based on both the OECD Model Tax Convention on Income and Capital and the UN Model Double Taxation Convention. The Base Erosion and Profit Shifting (BEPS) basic requirements are also included in the pact.

The treaty will enter into force the next year after Jordan completes its ratification procedure. If the ratification procedure is completed by the end of 2022, the treaty is projected to take effect on January 1, 2023.

Withholding tax provisions

The treaty provisions include the following withholding tax measures:

For the entire agreement, read more KPMG’s January 2022 report.

Source: kpmg

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