On January 6, 2016 the text of the Memorandum of Understanding with respect to the Exchange of Information for Tax Matters as concluded between the Competent Authorities of the Netherlands and Georgia (Hereafter: the MoU) was published in the Dutch Staatscourant. The MoU was signed by the Dutch competent authorities on November 23, 2015 and by the Georgian competent authorities on December 2, 2015.

According to the publication the MoU already entered into force on December 2, 2015.

According to the MoU the Competent Authorities of the Netherlands and Georgia will automatically exchange information (if available) with respect to a.o.:

·        Ownership of and  income from immovable property;

·        Dividends;

·        Interest;

·        Royalties;

·        Capital gains;

·        Income from independent personal services;

·        Income from employment;

·        Directors’ fees;

·        Artists and sportsmen;

·        Pensions;

·        Payments to students for education and training;

·        Other income;

The MoU also contains regulations with respect to the possibility for employees of the tax authorities of one state to be present in the other state during certain stages of an investigation that takes place in the other state.

The MoU will apply for the first time to information regarding the calendar year 2015.

Click here to be forwarded to the text of the MoU as available on the website of the Dutch Staatscourant (the MoU is only available in Dutch).

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