This Convention shall remain in force until terminated by a Contracting State. Either Contracting State may terminate the Convention not earlier than five years from its entry into force, through diplomatic channels, by giving notice of termination at least six months before the end of the calendar year. In such event, the Convention shall cease to have effect:
- (a) with respect to taxes withheld, to the amounts collected as from 1 January of the calendar year next following that in which the notification of termination is given; and
- (b) with respect to the other taxes on income, to the taxes referred to taxable periods as from 1 January of the calendar year next following that in which the notification of termination is given.
IN WITNESS WHEREOF, the undersigned, being duly authorised thereto by their respective Governments, have signed this Convention.
DONE at Nicosia, this twenty-seventh day of April 2007, in two originals in the Greek, Italian and English languages, all texts being equally authentic. In case of divergence between the texts the English text shall prevail.