Japan's Ministry of Finance announced on 22 October 2020 that Japan and Georgia have agreed in principle on a new income tax treaty that will replace the 1986 tax treaty between Japan and the former Soviet Union as it applies in respect of relations between Georgia and Japan. The new treaty will be signed after the necessary internal procedures have been completed by the two countries and will enter into force after the ratification instruments are exchanged. Although not specified by the Ministry, the treaty reportedly provides for a withholding tax rate of 5% on dividends and interest, and an...