Georgian Ministry of Finance has published a public decision regarding taxation of cryptocurrencies in Georgia.
According to the decision:
- Profit received by Georgian resident natural persons from selling cryptocurrencies are exempted from income tax.
- Selling cryptocurrency (exchanging it into Georgian or other national currencies) is not taxable by VAT,
- Selling the computational power for generating Cryptocurrency from Georgia to abroad is not taxable by VAT as well. In addition, right on input VAT on such operations is maintained.
The decision is in force since 28th June 2019.