The tax treaty between Cyprus and India has not been terminated and Cyprus is committed to finalize the "long pending review" of the tax treaty between the two countries, the finance ministry of the Mediterranean island nation announced.
Cyprus made the clarification, apparently, to dispel investor fears after the Indian government notified Cyprus as a 'notified jurisdictional area' (NJA) on 1st of November this year. India owns the right to do so under section 94A of its Income Tax Act.
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