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Tax incentives in Georgia (country) applicable for IT companies holding status of “Virtual Zone Person” or “International Company.” Which one is better and why?
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Tax incentives in Georgia (country) applicable for IT companies holding status of “Virtual Zone Person” or “International Company.” Which one is better and why?

Gela Barshovi Feb 19, 2021

Tax incentives in Georgia (country) applicable for IT companies holding status of “Virtual Zone Person” or “International Company.” Which one is better and why? Republic of Georgia offers multiple tax benefits to IT firms ...

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Cryptocurrency Taxation in Georgia (Preferential Tax Regimes)
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Cryptocurrency Taxation in Georgia (Preferential Tax Regimes)

Gela Barshovi Feb 8, 2021

Note: This article has initially published by Gela Barshovi (our founder and managing partner) on Bloomberg. Please, see the original link of the article:  https://news.bloombergtax.com/daily-tax-report-international/insight-taxation-of-cryptocurrency-in-georgia Georgia welcomes crypto business and is very popular with ...

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VAT in Georgia: The term – “Non-Qualified VAT Payer” newly introduced by Georgian Tax Administration
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VAT in Georgia: The term – “Non-Qualified VAT Payer” newly introduced by Georgian Tax Administration

Gela Barshovi Feb 7, 2021

On 21th January 2021, Revenue Service of Georgia (GRS-Georgian Tax and Custom Administration) set new restrictions for VAT payers in the country; in particular, the term “non-qualified VAT payer” was introduced. A business in ...

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Amendment of the Tax Law of Georgia, according to which selling 4 apartments by  individuals is not explicitly exempted from VAT anymore
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Amendment of the Tax Law of Georgia, according to which selling 4 apartments by individuals is not explicitly exempted from VAT anymore

Gela Barshovi Jan 25, 2021

Introduction Republic of Georgia offers multiple tax incentives/exemptions for individuals and legal entities. One such incentive was applicable for natural persons selling up to 4 apartments within 48 months. In particular, according to article ...

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1% tax applicable in Georgia  for individuals with “small business” status  What to know and consider?
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1% tax applicable in Georgia for individuals with “small business” status What to know and consider?

Gela Barshovi Dec 11, 2020

Note: This article has initially been published by Gela Barshovi on Forbes Georgia Under article 90 of the Georgian tax code, an individual with an earning up to 500 000 GEL (approx. $150 000) ...

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Tax treaty between Georgia and Japan has been renegotiated
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Tax treaty between Georgia and Japan has been renegotiated

Gela Barshovi Nov 4, 2020

By Gela Barshovi, International and Georgian tax adviser and managing partner at an accounting/consulting firm TPsolution Georgia and Japan competent authorities on 22th of October announced that they renegotiated the current tax treaty between ...

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Changes in Georgian VAT rules’ effect for Georgian tax residents providing service (or receiving from) abroad
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Changes in Georgian VAT rules’ effect for Georgian tax residents providing service (or receiving from) abroad

Gela Barshovi Oct 25, 2020

Introduction From the 1st of January 2021, significant amendments of Georgian Value Added Tax (VAT) regulation will come into power. The Georgian parliament already approves the changes in the law. It is the most ...

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Tax rates in Georgia (country) as well as reporting periods are provided in the table below:
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Tax rates in Georgia (country) as well as reporting periods are provided in the table below:

Gela Barshovi Oct 25, 2020

  GEORGIAN TAX TABLE: Tax category Rate Tax base Reporting period Remarks Corporate Income tax in Georgia 15% Gross amount of distributed dividend divided by 0.85 Month Payable only in case of distribution of ...

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Low taxation, Tax Incentives and Tax Exemptions provided by Republic of Georgia for Natural Persons
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Low taxation, Tax Incentives and Tax Exemptions provided by Republic of Georgia for Natural Persons

Gela Barshovi Oct 25, 2020

Note: This article has initially been published by Gela Barshovi on “Forbes Georgia”. Georgia, with its growing economy, has the intention of becoming one of the most attractive investment destinations in the world. This ...

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How to register a company and open a bank account in Georgia
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How to register a company and open a bank account in Georgia

Gela Barshovi Oct 25, 2020

Currently, Georgia is one of the most attractive places for investors to relocate their businesses. I have written many articles on the reasons for the Eastern European country, named Georgia, being an attractive investment ...

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New tax incentives in Georgia for foreign IT and shipping companies
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New tax incentives in Georgia for foreign IT and shipping companies

Gela Barshovi Oct 25, 2020

Note: This article has initially been published by Gela Barshovi on MNETax On 8 October, Georgia’s government published decree #619, providing new tax incentives for foreign and Georgian companies involved in shipping and information ...

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Tax residency rule in Georgia and importance of being Georgian tax resident
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Tax residency rule in Georgia and importance of being Georgian tax resident

Gela Barshovi Oct 25, 2020

Georgia offers highly beneficial taxation system to individuals and legal entities. The non-exhaustive list of Georgia’s tax incentives is given below: For natural persons (individuals):  1% taxation for individuals with an annual revenue ...

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Gela Barshovi
Managing Partner of TPsolution
Gela.barshovi@tpsolution.ge

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