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The Double Taxation Relief and International Tax Enforcement (Georgia) Order 2010

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Statutory Instruments

2010 No. 2972

Capital Gains Tax

Corporation Tax

Income Tax

The Double Taxation Relief and International Tax Enforcement (Georgia) Order 2010

Made

15th December 2010

At the Court at Buckingham Palace, the 15th day of December 2010

Present,

The Queen’s Most Excellent Majesty in Council

A draft of this Order was laid before the House of Commons in accordance with section 5(2) of the Taxation (International and Other Provisions) Act 2010(1) and section 173(7) of the Finance Act 2006(2) and approved by a resolution of that House.

Accordingly, Her Majesty, in exercise of the powers conferred upon Her by section 2 of the Taxation (International and Other Provisions) Act 2010 and section 173(1) of the Finance Act 2006, by and with the advice of Her Privy Council, orders as follows—

Citation

1.  This Order may be cited as the Double Taxation Relief and International Tax Enforcement (Georgia) Order 2010.

Double taxation and international tax enforcement arrangements to have effect

2.  It is declared that—

(a)the arrangements specified in the Protocol set out in the Schedule to this Order, which vary the arrangements set out in the Schedule to the Double Taxation Relief (Taxes on Income) (Georgia) Order 2004(3), have been made with the Government of Georgia;

(b)the arrangements have been made with a view to affording relief from double taxation in relation to income tax, corporation tax, capital gains tax and taxes of a similar character imposed by the laws of Georgia and for the purposes of assisting international tax enforcement; and

(c)it is expedient that those arrangements should have effect.

Judith Simpson

Clerk of the Privy Council

Article 2

SCHEDULE

EXPLANATORY NOTE

(This note is not part of the Order)

The Schedule to this Order contains a Protocol (“the Protocol”) which amends the agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of Georgia for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital (“the Agreement”). The Agreement was scheduled to the Double Taxation Relief (Taxes on Income) (Georgia) Order 2004 (S.I. 2004/3325). This Order brings the Protocol into effect.

The Agreement aims to eliminate the double taxation of income or gains arising in one country and paid to residents of the other country. It does this by allocating the taxing rights that each country has under its domestic law over the same income and gains, and/or by providing relief from double taxation. It also has specific measures which combat discriminatory tax treatment and provide for assistance in international tax enforcement. The Protocol continues that approach.

The Protocol amends Article 3 of the Agreement to include a definition of “pension scheme”. Article 5 is amended to extend to 12 months the time limit after which a building site or construction project will constitute a permanent establishment. Article 10 is amended to provide for dividends, other than those paid by property investment vehicles, to be paid free of withholding tax.

Article 1 provides for citation.

Article 2 makes a declaration as to the effect and content of the arrangements set out in the Protocol.

The Protocol will enter into force on the date of the later of the notifications by each country of the completion of its legislative procedures. It will have effect:

(a)in respect to taxes chargeable in Georgia, for any fiscal year beginning on or after 1st January in the year next following the date of entry into force;

(b)in respect to income tax and capital gains tax in the United Kingdom, for any year of assessment beginning on or after 6th April in the year next following the date of entry into force; and

(c)in respect to corporation tax in the United Kingdom, for any financial year beginning on or after 1st April in the year next following the date of entry into force.

The date of entry into force will, in due course, be published in the London, Edinburgh and Belfast Gazettes.

A full and final Impact Assessment has not been produced for this Order as a negligible impact on the private or voluntary sectors is foreseen.

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