On 13 May 2015, officials from Georgia and Iceland signed an income tax treaty. The treaty is the first of its kind between the two countries.
Taxes Covered
The treaty covers Georgian profits tax and income tax, and covers Icelandic income taxes to the state and income taxes to the municipalities.
Withholding Tax Rates
- Dividends - 5% if the beneficial owner is a company directly holding at least 25% of the paying company's capital; otherwise 10%
- Interest - 5%
- Royalties - 5%
Capital G…