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Cyprus: Double taxation agreement between Cyprus and Switzerland

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Zoe Kokoni

On July 25 2014, Cyprus and Switzerland signed a double taxation agreement based on the OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital. The treaty is not yet in force since it is subject to ratification by the two contracting states. By signing this agreement both countries aim to strengthen their trade and economic relations.

According to the Cyprus Ministry of Finance: "Updating, maintaining existing and signing new 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".

Cyprus has double taxation treaties with more than 50 countries; the Swiss network is slightly larger, with 80 agreements in place.

Zoe Kokoni (zoe.kokoni@eurofast.eu)

Eurofast, Cyprus office

Tel: +357 22 699 222

Website: www.eurofast.eu

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