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Article 2 - Taxes Covered - GeorgiaExtract ARTICLE 2 TAXES COVERED 1. This Agreement shall apply to taxes on income and on capital imposed on behalf of a Contracting State or of its political sub-divisions or political-administrative sub-divisions or local authorities, irrespective of the manner in which they are levied. 2. There shall be regarded as taxes on income and on capital all taxes imposed on total income, on total capital, or on elements of income or of capital, including taxes on gains from the alienation of movable or immovable property and taxes on the total amounts of wages or salaries paid by enterprises. 3. The existing taxes to which this Agreement shall apply are in particular: In the case of India: (i) the income tax, including any surcharge thereon; (ii) the wealth tax, including any surcharge thereon; (hereinafter referred to as Indian tax ) In the case of Georgia: (i) profit tax; (ii) income tax; (iii) property tax; (hereinafter referred to as Georgian Tax ) 4. This Agreement shall apply also to any identical or substantially similar taxes that are imposed after the date of signature of this Agreement in addition to, or in place of, the existing taxes. The competent authorities of the Contracting States shall notify each other of any significant changes that have been made in their respective taxation laws.
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