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The double taxation agreement between Switzerland and Cyprus enters into force

The Cyprus tax department has announced that the new double taxation agreement with Switzerland, which was signed on 25 July 2014, entered into force on 15 October 2015.

It will therefore have effect with respect to taxes withheld at source on amounts paid or credited on or after 1 January 2016. For other taxes it will have effect for taxation years beginning on or after that date.

The entry into force of the new agreement brings the total number of countries with which Cyprus has double taxation agreements in force to 55.