On 11 May 2018, Georgia's government approved the ratification of the pending income and capital tax treaty with Saudi Arabia. The treaty, signed 14 March 2018, is the first of its kind between the two countries.
Taxes Covered
The treaty covers Georgian profit tax, income tax, and property tax, and covers Saudi Zakat and income tax, including the natural gas investment tax.
Service PE
The treaty includes the provision that a permanent establishment will be deemed constituted when an ent…