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TAX: Cyprus, Switzerland in double taxation agreement

25 July, 2014

Cyprus and Switzerland have signed a double taxation avoidance agreement and a relevant protocol that will contribute to further developing trade and financial relations between the two countries as well as with other countries, the Ministry of Finance said.
It added that “by bringing up to date, maintaining existing and signing new such double taxation treaties is part of the drive to enhance and attract foreign investments, as well as of promoting Cyprus as an international business hub.”
The agreement is based on the OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital and Cyprus has over 50 double taxation treaties in force.