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- 1. Each of the Contracting States shall notify the other, in writing, through diplomatic channels, of the completion of the procedures required by its law for the bringing into force of this Convention. This Convention shall enter into force on the date of the later of these notifications and shall thereupon have effect:
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- a) in the United Kingdom:
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- (i) in respect of taxes withheld at source, for amounts paid or credited on or after the first day of January next following the date on which this Convention enters into force
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- (ii) in respect of income tax and capital gains tax, for any year of assessment beginning on or after 6th April next following the date on which this Convention enters into force;
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- (iii) in respect of corporation tax, for any financial year beginning on or after 1st April next following the date on which this Convention enters into force.
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- b) in Cyprus:
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- (i) in respect of taxes withheld at source, for amounts paid or credited on or after the first day of January next following the date on which this Convention enters into force; and
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- (ii) in respect of other taxes, for taxable years beginning on or after the first day of January next following the date upon which the Convention enters into force.
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- 2. Notwithstanding the provisions of paragraph 1:
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- a) the provisions of Article 27 (Assistance in collection) shall not have effect until Cyprus confirms through diplomatic channels that it is able to provide such assistance under its domestic law whereupon (and to the extent permitted under that law) the provisions shall have effect without regard to the taxable period to which the revenue claim relates;
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- b) the provisions of Article 25 (Mutual agreement procedure) and Article 26 (Exchange of information) shall have effect from the date of entry into force of this Convention, without regard to the taxable period to which the matter relates.
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- 3. The Convention between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Republic of Cyprus for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income signed at Nicosia on 20th of June 1974, as amended by the Protocol signed at Nicosia on the 2nd of April 1980 (the prior Convention), shall cease to have effect in respect of any tax with effect from the date upon which this Convention has effect in respect of that tax in accordance with the provisions of paragraph 1 of this Article and shall terminate on the last such date.
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- 4. Notwithstanding the entry into force of this Convention, an individual who is entitled to the benefits of Article 20 (Teachers) or Article 21 (Students and trainees) of the prior Convention at the time of entry into force of this Convention shall continue to be entitled to such benefits until such time as the individual would have ceased to be entitled to such benefits if the prior Convention had remained in force, but in no case shall such entitlement continue for a period exceeding five years from the date of entry into force of this Convention.
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- 5. Notwithstanding the entry into force of the Convention signed 22 March 2018, where an individual was entitled to the benefits of paragraph 1 of Article 19 (Pensions) of the prior Convention signed 20 June 1974, as amended on 2 April 1980, at the time of entry into force of this Convention, that individual may make an election that the provisions of that Article, and not the provisions of paragraph 2 of Article 18 of this Convention, shall continue to apply for calendar years ending on or before 31 December 2024. Unless revoked by the individual, that election shall have effect for the calendar year in which it is made and for subsequent years ending on or before 31 December 2024. Elections and revocations under this Article should be made in writing to the Competent Authority of the Contracting State from which the pension or similar remuneration is paid. The Contracting State that receives the election shall notify the other State. Where an election has been revoked, no further election under this paragraph may be made.