Georgia, Japan agree on convention to avoid double taxation

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.

The 'Convention between Georgia and Japan for the Elimination of Double Taxation with Respect to Taxes on Income and the Prevention of Tax Evasion and Avoidance’ will replace the tax convention between the government of Japan and the government of the Union of Soviet Socialist Republics for the avoidance of double taxation with respect to taxes on income which entered into force in 1986. 

Henceforth, the double tax convention between Georgia and Japan will be based on the new document, which will promote enhanced economic cooperation between the two countries and attract investment, said the ministry.

Currently Georgia has treaties with over 56 countries to prevent double taxation.