Read the latest business news about Georgia

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

On 21th January 2021, the 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”...

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

Introduction The 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....

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

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...

Tax treaty between Georgia and Japan has been renegotiated

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...

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

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...

New tax incentives in Georgia for foreign IT and shipping companies

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...

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

  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...

Georgia publishes amended text of tax treaties with Iceland, Ireland, Finland, Luxemburg, Slovenia

By Gela Barshovi The Republic of Georgia’s Ministry of Finance The Republic of Georgia’s Ministry of Finance on 23th July this year published the synthesized text of tax treaties with five...

Preferential (new) rules of cryptocurrency taxation in Georgia

Georgian Ministry of Finance has published a public decision regarding the taxation of cryptocurrencies in Georgia. According to the decision: Profit received by Georgian resident natural persons from selling cryptocurrencies...