Georgia is stepping up cooperation in taxation, customs affairs and a number of other avenues with Cyprus, Liechtenstein and Iceland.
The Financial Ministers of Cyprus, Liechtenstein and Island signed a corporation agreement with Georgia on the avoidance of double taxation, prevantion of evasion of income and capital taxes in Tbilisi on May 13th 2015.
Georgia's Finance Minister, Mr. Nodar Khaduri, hosted jos counterparts and signed the documents at the Parliament Building in central Tbilisi, where the European Bank of Reconstruction and Development (EBRD) 24th Annual Meeting is currently taking place.
Mr. Nodar Khaduri pointed out that the main reason for signing the agreements has been to increase economic cooperation between the countries and attract more investments. He stated:
"This is an additional guarantee for investors that Georgia is an open country and its tax legislation is convenient for them. At the same time Georgian investors are also able to invest in Cyprus, Liechtenstein and Iceland benefiting from favourable conditions".
The Cyprus Finance Minister said: "We are delighted that we are in Georgia and have signed an agreement which is a very important factor to attracting investments for both countries. Exactly this document creates the conditions to deepen economic relations between the countries and to implement the investment projects."
Currently Georgia has treaties with more than 50 countries to ensure the avoidance of double taxation, and customs cooperation agreements with more than 16 countries.
Source: agenda.ge 2015
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