Georgia avoids double taxation with Saudi Arabia
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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.
The deal was signed in Saudi Arabia, where Georgia’s Finance Minister Mamuka Bakhtadze is currently on official visit.
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 is to increase economic cooperation between Georgia and Saudi Arabia and attract more foreign investments, said Georgia’s Finance Ministry.
Currently Georgia has treaties with over 50 countries to prevent double taxation.
Recently Georgia signed the same agreement with Moldova, Liechtenstein, Kyrgyzstan, South Korea 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 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.
Georgia and Kyrgyzstan are increasing economic cooperation by signing an agreement on avoidance of double taxation.
Georgia and South Korea are stepping up bilateral cooperation to avoid double taxation, boost investments and increase economic cooperation.
Saudi Arabia is opening an Embassy in Georgia’s capital of Tbilisi in May 2018 in order to promote the relationship between the two countries, Georgia’s Ministry of Foreign Affairs reports.
A double taxation avoidance deal signed between Georgia and Moldova in November 2017 is coming into play today.
The kingdom of Saudi Arabia is opening an Embassy in Georgia’s capital of Tbilisi in December 2018 in order to promote the relationship between the two countries, Georgia’s Ministry of Foreign Affairs reports.
Two Saudi sisters, who have fled their country and family, have tweeted that they are in Georgia and are in urgent need of UNHCR protection as their brothers and father have come to Georgia looking for them.
Employees of the Georgian Interior Ministry have visited two Saudi sisters at their temporary location in Tbilisi, after the sisters posted on Twitter yesterday and asked for help because of the possible threats they faced from their family members.
Maha and Wafa al-Subaie, two Saudi sisters who fled their country and family and sought refuge in Georgia, have just posted on Twitter that they are departing for a new country to start a new life. They have released a video showing them holding Georgian passports as they were provided with asylum in Georgia.
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.