On 3 May 2017, Cyprus signed a tax treaty with Barbados, which was published in the Gazette on 12 May 2017. The conclusion of the Cyprus – Barbados tax treaty is expected to enhance the economic relations between the two countries, which both have a service-based economy.

The tax treaty provides NO withholding tax on:

1. interest,

2. dividends and

3. royalties.

Effective date on or after 1 January following the date the treaty enters into force.