An agreement for the avoidance of double taxation has been signed between Cyprus and the Georgia.
The Minister of Finance of Georgia, Nodar Khaduri, and the Minister of Finance of Cyprus, Haris Georgiades, signed a verified Double Taxation Treaty (DTT) on May 13, 2015 in Tbilisi, Georgia.
The DTT provides for zero withholding tax on dividends, interest and royalties.
The new treaty will become effective on or after the 1st of January 2016, once the ratification procedure is completed by both countries. The DTT is expected to strengthen the economic relations between Cyprus and Georgia and promote inbound and outbound investments.
