🖊️The Agreement for the Elimination of Double Taxation with Respect to Taxes on Income and the Prevention of Fiscal Evasion and Avoidance between the Government of the 🇨🇾Republic of Cyprus and the Government of the 🇭🇰 Hong Kong Special Administrative Region of the Peoples’s of China was signed today June 12, 2026 in Hong Kong. The Agreement, on behalf of the Republic of Cyprus, was signed by the Ambassador of the Republic of Cyprus to the People’s Republic of China, Ms. Koula Sophianou who was accompanied by the Honorary Consul of Cyprus in Hong Kong Dr. Harindarpal Singh Banga and on behalf of the Hong Kong Mr. Christopher Hui, Secretary for Financial Services and the Treasury, signed the Treaty. The Agreement contributes towards a modern and reliable framework for tax cooperation, which is expected to facilitate further business activities and enhance the flow of investments and trade transactions. Furthermore, it will contribute to reducing the overall tax burden by encouraging sustainable investments, without creating opportunities for tax evasion or tax avoidance, while ensuring legal certainty. This bilateral agreement, ensures specific and clear tax treatment of transactions between the two jurisdictions, providing certainty and stability to investors. The Agreement also provides for the exchange of tax information between the competent authorities, as well as the resolution of tax disputes. The signing of this Agreement reflects the importance attached to the development of strong economic and political ties with international financial and commercial centers, like Hong Kong, in order to strengthen further prospects for cooperation in an evolving global economic environment.