On the 25.07.2014 Cyprus and Switzerland signed an avoidance of double taxation agreement and relevant protocol.
A Finance Ministry press release said, that the new agreement will contribute to further developing trade and financial relations between the two countries as well as with other countries.
The ministry further stated that maintaining, updating and signing new double taxation treaties was part of the drive to enhance and attract foreign investments, as well as promote Cyprus as an international business hub.
The agreement is based on the OECD Model Convention for the Avoidance of Double Taxation on Income and Capital.
There are currently over 50 double taxation treaties in force in Cyprus. Double taxation treaties help dismantle the barriers surrounding cross-border economic transactions.
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