Tbilisi, Tokyo Sign Double Taxation Agreement

Georgian Finance Minister Ivane Machavariani and Japanese Ambassador to Georgia Imamura Akira on January 29 held an introductory meeting and signed an agreement on avoiding international double taxation of income and capital.

The Ministry of Finance of Georgia said the agreement, which the two countries have been negotiating over since June, aims at “deepening economic cooperation” and “attracting investments.”

According to the Finance Ministry, the agreement incorporates tax avoidance measures from the Domestic Tax Base Erosion and Profit Shifting (BEPS) standards of the Organization for Economic Co-operation and Development (OECD).

The deal will substitute a preexisting arrangement signed in 1986 between Japan and the Soviet Union.

Georgia currently holds double taxation agreements with 56 countries, the Finance Ministry noted.

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