How to open a bank account in Georgia and what Expats need to consider? There are no legal restrictions for non-residents to open bank accounts in Georgia. However, when it comes to dealing with expats and foreigners, in some cases…
A new service –Tax Calculator – developed by the National Statistics Service of Georgia (“Geostat”), was recently launched in Georgia. Tax Calculator is a new electronic service that allows its users to determine the amount of their contributions to the budget in the form of their direct…
An amendment was made to the Resolution of the Government of Georgia of March 30, 2010 No. 96, which provides the introduction of a new condition for the payment of service fees to the Revenue Service. Those taxpayers, who apply to the tax office electronically from their authorized user page, are either exempt from the service…
Tax revenues are one of the largest sources of income for the Georgian budget. At the same time, the tax administration itself is simpler than ever- thanks to the “one window” principle. The Georgian Ministry of Finance has got off…
Since 2020, a highly important wide-scale change was implemented regarding tax administration. Based on the declarations submitted for a particular month, the taxpayer receives an automatic refund of the existing VAT surplus to his bank account. The system is fully automated,…
In October 2020, the Georgian government launched a program available for companies offering IT and maritime services wishing to acquire the status of an international company within the country. In just over half a year, 3 maritime and 14 IT companies have already received such international…
The tourism sector, which employs about 150,000 people, has been hit tremendously by the COVID-19 pandemic. For more than 6,000 companies linked to tourism, property tax and income tax payments were deferred for 4 months until November 1st. In addition, 2,200 hotels, with…
The Georgian government has launched a program to help migrants, who have returned to their homeland amid the pandemic. The IDP`s and Eco-migrants Agency of Georgia has begun accepting applications from returning migrants within the framework of the state program to assist…
The Georgian authorities are planning to revise their tax policy that came into force in January 2021. The review will also include tax breaks. Changes to the tax policy and additional tax benefits are one of the main demands of…
The Law of Georgia on Amendments to the Tax Code of Georgia, was published in the “Legislative Herald of Georgia” (document number N83-II რს- X მპ) and entered into force on January 5th, 2021. Absolutely all entrepreneurs in Georgia will be able to count on tax breaks…