Vietnam and the Republic of Cyprus signed a Double Taxation Avoidance Agreement.

On December 15th, Vietnamese Deputy Minister of Finance Cao Anh Tuan and Cypriot Minister of Finance Makis Keravans signed an Agreement on the Avoidance of Double Taxation and Prevention of Tax Evasion with respect to Taxes on Income between the Government of Vietnam and the Government of the Republic of Cyprus.

The signing ceremony was held in a solemn atmosphere, witnessed by representatives from the Ministries of Foreign Affairs and Finance of both countries, demonstrating the political will and strong commitment of the two governments to promoting bilateral economic and financial cooperation.

Over the years, economic and trade cooperation between Vietnam and the Republic of Cyprus has grown well, with bilateral trade reaching US$111.6 million. As of October 2025, the Republic of Cyprus has 28 investment projects in Vietnam with a total registered investment capital of nearly US$470 million, ranking 34th out of 153 countries and territories investing in Vietnam, focusing on real estate, manufacturing, and agriculture.

Vietnamese Deputy Minister of Finance Cao Anh Tuan and Cypriot Minister of Finance Makis Keravans signed an Agreement on the Avoidance of Double Taxation.

Currently, Vietnam has one investment project in the Republic of Cyprus with a total registered capital of US$0.48 million, ranking 67th out of 80 countries and territories with Vietnamese investment projects. With its strengths in tourism, finance, seaports, and logistics, along with its important transit position to the Middle East, Southern Eastern Europe, and North Africa, the Republic of Cyprus opens up many potentials for deeper economic cooperation and investment between the two countries in the future.

Speaking at the signing ceremony, Deputy Minister Cao Anh Tuan emphasized that, given the current economic and trade cooperation between Vietnam and Cyprus, the Double Taxation Avoidance Agreement between Vietnam and Cyprus will ensure a fair allocation of taxing rights between the two countries, while establishing a clear, stable legal environment consistent with international standards. This will encourage investment and business activities by investors, businesses, and individuals residing in both Vietnam and Cyprus, and is concrete evidence of the good cooperation and friendship between Vietnam and Cyprus, marking a new step forward in the cooperative relationship between the two sides.

Vietnam and the Republic of Cyprus signed a Double Taxation Avoidance Agreement - 2

Mr. Makis Keravans, Minister of Finance of the Republic of Cyprus, expressed his pleasure at the signing of the Double Taxation Avoidance Agreement between Vietnam and the Republic of Cyprus. He believes that the tax agreement is the beginning of a strong relationship between the two sides, thereby bringing benefits and prosperity to both in the future.

To date, Vietnam has signed 81 Double Taxation Avoidance Agreements with countries/territories around the world, of which 77 have come into effect. The signing of the tax agreement with the Republic of Cyprus further affirms Vietnam's policy of deep international integration in the financial and tax sectors, and demonstrates Vietnam's active role in fulfilling its international tax commitments.

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