The double taxation agreement between Cyprus and Estonia has been signed by the two countries' foreign ministers on October 15 2012, according to the Cyprus ministry of foreign affairs. This is considered to be the first treaty finally signed between the two countries since Estonia rejected the Double Tax Treaty of 1982 (DTT) that was in place between Cyprus and the former Soviet Union. The new DTT is one more addition to the extensive network of DTTs that Cyprus has with more than 45 countries. The new DTT will allow Estonians to use the tax-beneficial Cypriot legal entities for the purpose of investing and paying dividends back into Estonia. Details of the new agreement are not yet available, and it is not yet officially confirmed when it will enter into force.
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