Georgia and Japan Sign Double Taxation Avoidance Agreement

Deputy Finance Minister of Georgia Lasha Khutsishvili and the Japanese Deputy Ambassador in Georgia Masataka Obata finished negotiations and achieved agreement on the revised text of the Convention on Double Taxation Avoidance and Prevention of Tax Evasion.

This convention has replaced the 1986 agreement between Japan and the Soviet Union. Starting now, the Georgia-Japan agreement on double taxation avoidance is based on a new legal framework document. The new document will deepen economic cooperation between Georgia and Japan and attract investments to Georgia.

The convention is based on the 2017 revised model of the Organization for Economic Cooperation and Development (OECD) and calls for reducing the taxation base in compliance with BEPS standards. At this stage, Georgia has signed the agreement on double taxation avoidance with 56 countries.