Read the latest business news about Georgia

Virtual Zone Companies in Georgia, the new approach of the Georgian tax authority

Introduction Companies providing certain type of IT services from Georgia to foreign customers can obtain a certificate of “Virtual Zone Person” (VZP) and enjoy corporate income tax (CIT) exemption in...

„Small Business” status (1% taxation) is applicable in Georgia (Country)

Introduction If an individual qualifies under a “small business” status, he/she can enjoy 1% taxation in Georgia. Although, there are several important preconditions an individual entrepreneur needs to meet for...

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

  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...

Cryptocurrency Taxation in Georgia (Preferential Tax Regimes)

  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...

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...

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...

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...

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...

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...