The Ministry of Finance has recently released an announcement according to which Cyprus has signed a double taxation agreement with Georgia. The Finance Minister, Harris Georgiades, stated that the agreement should enhance cooperation between the two countries but should also lead to more foreign investments in Cyprus and Georgia.
President Nicos Anastasiades declared the Government will soon announce new tax breaks for foreign investors coming to Cyprus. The President also announced that the Ministry of Finance in collaboration with key players in the private sector will present a plan that would improve the Cypriot taxation framework. The cooperation between the two parties has the same goal of attracting more foreign investments.