DOUBLE TAX TREATY BETWEEN CYPRUS AND SWITZERLAND

On July 25th, Cyprus and Switzerland signed a Double Tax Treaty (DTT), a milestone to the growing commercial relations between the two countries.

In delivering the news, the Cyprus Foreign Ministry expressed its commitment to enhancing Cyprus’ bilateral agreements by driving as many foreign investments to the island as possible. To this end, the Ministry shall be updating and closely maintaining existing treaties with a view to establishing Cyprus as a preferred international business hub.

The DTT with Switzerland is based on the OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital.