Cyprus and Switzerland sign tax avoidance deal

Cyprus and Switzerland signed an avoidance of double taxation agreement and relevant protocol on Friday.

The agreement will contribute to further developing trade and financial relations between the two countries as well as with other countries, a Finance Ministry press release said.
The ministry said 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.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.