Cyprus Double tax treaties

CYPRUS - Double tax treaties with 34 countries
Treaty with Hungary

Russia | Poland | Romania | Hungary | Ireland | Greece | Czech Rep | India | Sweden

The treaty concluded between Cyprus and Hungary applies in the case of Cyprus IBCs (offshore companies) with no restrictions.

The treaty provides:

• elimination of double taxation in Hungary by way of exemption, except for dividends and interest, where it is by a way of tax credit
• there are reduced withholding taxes for dividends, interest and royalties
• capital gains from the sale of shares in Hungarian companies are taxed in Cyprus only