Article 32 - Termination - Georgia

Article 32 Termination 1. This Agreement shall remain in force until terminated by a Contracting State. Either of the Contracting State may after the expiration of a period of five years from the date of its entry into force, terminate this Agreement, by giving written notice of termination to the other Contracting State through the diplomatic channels at least six months before the end of any calendar year, in such event, this Agreement shall cease to have effect: In India: (i) in respect of taxes withheld at source, to income paid or credited on or after 1st April of the calendar year next following the year in which the notice is given; (ii) in respect of other taxes on income, and taxes on capital, to taxes chargeable for any fiscal year beginning on or after 1st April of the calendar year next following the year in which the notice is given; and In Georgia (i) in respect of the taxes withheld at source, to income paid or credited on or after 1st January of the calendar year next following the year in which the notice is given; (ii) in respect of other taxes on income and on capital chargeable for any fiscal year beginning on or after 1st January of the calendar year next following the year in which the notice is given. IN WITNESS WHEREOF the undersigned, duly authorized thereto, have signed this Agreement. Done at New Delhi on the 24th day of August, 2011 in duplicate in the Hindi Georgian and English Languages, all the text being equally authentic in case of divergence of interpretation, the English text shall prevail. CHAIRMAN AMBASSADOR EXTRAORDINARY CENTRAL BOARD OF DIRECT TAXES AND PLENIPOTENTIARY OF GEORGIA MINISTRY OF FINANCE TO THE REPUBLIC OF INDIA For the Government of Republic of India for the Government of Georgia