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ARTICLE · 07 AUGUST 2015

New Double Tax Agreement With Georgia

Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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Elias Neocleous & Co LLC

Elias Neocleous & Co LLC

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The agreement covers all taxes on income and capital levied by either state or by any of its sub-divisions or local authorities, including taxes on capital appreciation and on gains from the alienation of movable or immovable property.

CyprusWealth Management
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC
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Introduction

On May 13 2015 Cyprus and Georgia signed a new double tax agreement. Unlike many former members of the Union of Soviet Socialist Republics (USSR), Georgia did not adopt the 1982 Cyprus-USSR double tax agreement when it became independent and the new agreement is the first between the two countries. It will come into force once it has been ratified in accordance with both countries' domestic legal procedures.

The new agreement closely follows the 2010 Organisation for Economic Cooperation and Development (OECD) Model Tax Convention, with only minor modifications, and the protocol to the agreement clarifies the information exchange provisions.

Details of agreement

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