UK- Georgia Tax agreement
A new protocol to the Double Taxation Agreement between the UK and Georgia was signed in Tibisli (Georgia) recently and entered into force in the UK on 17 December 2010. The protocol amends an earlier agreement which dates back to July 2004.
The protocol seeks to avoid double taxation in relation to income tax, capital gains tax and corporation tax in the UK and similar taxes in Georgia. There are also specific amendments in relation to pension schemes and dividends contained in the new protocol.
The protocol will take force once both countries have finalised their relevant legislative procedure. The provisions will then take effect from 1 January of the following calendar year in Georgia and in the UK from 1 April for corporation tax and from 6 April for income tax and capital gains tax.