On 18 April 2015, the income and capital tax treaty between Georgia and Portugal entered into force. The treaty, signed 21 December 2012, 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 Portuguese personal income tax, corporate income tax, and surtaxes on corporate income. 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 - 10% Royalties - 5% Capital Gains The following capital gains derived by a...