A Pension reform was initiated by the Government of Georgia and entered into force on January 1, 2019. This scheme consists of the activation of a so-called “funded pension”, to which everyone will make a minor contribution – the employee,…
Georgia is becoming a very attractive destination to both live and do business in. The low cost of living and the relatively simple process for obtaining a residence, coupled with its status as an entrepreneur-friendly country with reduced tax burden…
Georgia continues to pursue a business-friendly tax and customs policy, which – along with economic reform – implies a complete harmonization of the legislation with EU standards. At this stage, work on the new Customs Code project has been completed…
On 14 March 2018, officials from Georgia and Saudi Arabia signed an income tax treaty which has been forwarded for ratification. The main goal of signing the agreement is to increase economic cooperation between Georgia and Saudi Arabia and attract…
On 31 January 2018, the Moldovan Cabinet approved the income tax treaty with Georgia. The treaty, signed 29 November 2017, is the first of its kind concluded between the two countries and will enter into force after the ratification instruments…
The Government of Georgia is attempting to simplify the country’s Tax Code after Georgia signed its Association Agreement (AA) deal with the European Union (EU) in mid-2014. While major tax reforms regarding corporate income tax took place in 2017, Georgia…
The International Monetary Fund’s Executive Board completed its first review of Georgia’s performance within the three-year extended arrangement under the Extended Fund Facility (EFF). An International Monetary Fund (IMF) team visited Tbilisi from September 25 to October 9, 2017 and…
By way of further development of the country`s economy, facilitation of the trade and liberalization of its tax regime, Georgia has signed an agreement with China on the creation of free trade zones in Georgia. The China-Georgia Free Trade Agreement…
[print_link] Georgia is becoming an increasingly popular jurisdiction for doing business both domestically as well as internationally. The attractiveness factors include the country’s top ranks in international ratings on ease of starting and maintaining a business as well as the…
Since 2003, Georgia has embarked on a journey of continuous reforms towards liberalization of the economy. As a result, in recent years Georgia’s economy has been steadily growing. The country’s most important economic sectors include agriculture, mining (manganese and copper)…