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Georgia and UAE signed an agreement on preventing double taxation

2010-12-14 18:18

11344.jpegGeorgia and United Arab Emirates have signed an agreement on preventing double taxation of income and capital and eliminating non-payment of taxes.

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According to information provided by Georgian Minister of Finance, the document was signed at the end of November in the context of the Georgian delegation's official visit to Abu Dhabi, IA Regnum reports.

As they say in Ministry of Finance, the signing of the agreement will encourage the flow of the Arabian investments in Georgia and the expansion of economic interaction between the two countries.

According to official statistics, UAE are one of Georgia's strategic partners. The foreign trade turnover with this country in 2007-2009 exceeded 76 million dollars, which accounts for 20,5% of Georgia's aggregate external turnover, while the volume of UAE's direct investments in the Georgian economy in the same period was 600 million dollars.

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