Double taxation deal between Georgia and Japan comes into force

A double taxation avoidance deal between Georgia and Japan is coming into force starting today, reports the Georgian Ministry of Finance.

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 country.

The main purpose of the Treaty of the Avoidance of Double Taxation is to promote economic cooperation between countries and encourage foreign investments.

Currently Georgia has double taxation agreements with 57 countries.