CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Hong Kong, Georgia Tax Deal To Enter Into Force

Hong Kong, Georgia Tax Deal To Enter Into Force

by Mary Swire, Tax-News.com, Hong Kong

06 August 2021


The Hong Kong Government has announced that the comprehensive double tax agreement it signed with Georgia last year will enter into force on July 1.

Under the agreement, any tax paid in Georgia by Hong Kong companies will be allowed as a credit against the tax payable in Hong Kong on the same income, subject to the provisions of the tax laws of Hong Kong.

For Georgian companies, the tax paid in Hong Kong will be allowed as a deduction from the tax payable on the same income in Georgia.

Georgia's withholding tax rates for Hong Kong residents on interest and royalties income will be capped at five percent at source. Profits from international shipping transport earned by Hong Kong residents arising in Georgia will not be taxed in Georgia.

The agreement will have effect in respect of Hong Kong tax from April 1, 2022, the Government has said.

TAGS: tax | interest | royalties | law | tax rates | withholding tax | Georgia | Hong Kong

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »