Georgia, Japan plan to sign agreement to avoid double taxation

Business Materials 12 June 2020 10:24 (UTC +04:00)
Georgia, Japan plan to sign agreement to avoid double taxation

BAKU, Azerbaijan, June 12

By Tamilla Mammadova – Trend:

Georgia and Japan are discussing the possibilities of signing an agreement to avoid double taxation, Trend reports via the Ministry of Finance of Georgia.

As reported, the main goal of signing the agreement is to increase economic cooperation between Georgia and Japan, as well as to attract more foreign investments.

"The agreement 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," said the ministry.

Meanwhile, Georgia has double taxation agreement with 56 countries.

Japan recognized Georgia's independency in April 1992 and established diplomatic relations in August of the same year. The Embassy of Japan in Tbilisi was opened in January 2009.

Japan and Georgia closely cooperate within the framework of the United Nations and other various international organizations.

Georgia, together with other countries, is a founding member of GUAM, an international organization aiming at further democratization and market economy, to which Japan has been contributing by promoting energy efficiency, trade and investment, as well as tourism.


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