Georgia, Tbilisi, Dec. 13 / Trend N.Kirtzkhalia /
Georgian Deputy Finance Minister Rusudan Kemularia and UAE Finance Ministry CEO Younis Haji Al Khoori signed an agreement to avoid double taxation and prevent tax evasion today.
The agreement aims to enhance cooperation and partnership with Georgia. By creating a suitable investment environment, the agreement helps to encourage development in both countries. It also includes exempting airlines from all types of taxes on its operations resulting from the transfer of passengers and freights, in addition to other investments in various financial tools such as deposits and bonds. The agreement also exempts taxes on the income generated by technical services provided to UAE airlines, the Georgian ministry reported.
Based on statistics, the UAE is one of Georgia's key strategic partner. This is confirmed by the following economic indicators -- trade between the two countries exceeded $76.12 million from 2007-2009 and the amount of direct investment in Georgia amounted to $600.19 million.