Georgia establishes tax free relations with Liechtenstein
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Georgia and Liechtenstein are increasing economic cooperation by avoiding double taxation, meaning that people or businesses working between the two countries will be free from income and capital taxes.
The deal was signed in May 2015 in Georgia’s capital Tbilisi but entered into force today.
Double taxation is the levying of tax by two or more jurisdictions on the same declared income (income taxes), assets (capital taxes), or financial transaction (sales taxes). This double liability is often mitigated by tax treaties between countries.
The main goal of signing the agreement was to increase economic cooperation between Georgia and Liechtenstein and attract more foreign investments, said Georgia’s Finance Ministry.
Currently Georgia has treaties with 54 countries to prevent double taxation.
Recently Georgia signed the same agreement with Kyrgyzstan, South Korea and Iceland.
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Georgia and South Korea are stepping up bilateral cooperation to avoid double taxation, boost investments and increase economic cooperation.
Georgia and Iceland are stepping up their bilateral cooperation in taxation and customs affairs.
Georgia is stepping up cooperation in taxation, customs affairs and a number of other avenues with Cyprus, Liechtenstein and Iceland.
Georgia and Moldova are increasing economic cooperation by avoiding double taxation, meaning that people or businesses working between the two countries will be free from income and capital taxes.
Georgia and Saudi Arabia are increasing economic cooperation by avoiding double taxation. This means that people or businesses working abroad in either country will not have to pay taxes in both countries, and will instead pay income and capital taxes in only one.
A double taxation avoidance deal signed between Georgia and Moldova in November 2017 is coming into play today.
A double taxation avoidance deal signed between Georgia and Saudi Arabia in March 2018 is coming into play today.
Georgia and Japan are discussing the possibilities of signing an agreement to avoid double taxation, announces the Ministry of Finance of Georgia.
Deputy Minister of Finance of Georgia Lasha Khutsishvili and the Deputy of Ambassador of Japan Masataka Obata have completed negotiations on a law to prevent double taxation in Georgia and Japan.
A double taxation avoidance deal between Georgia and Japan is coming into force starting today, reports the Georgian Ministry of Finance.
A deal between Georgia and Poland coming into force today will allow individuals and businesses operating in either country to only pay a single tax while also combating tax avoidance, the Georgian Ministry of Finance said on Monday.
Georgian Foreign Minister Ilia Darchiashvili on Monday hailed the first visit of Dominique Hasler, the Minister of Foreign Affairs, Education and Sports of Liechtenstein, to the country as “historic” for bilateral relations.