Tax in Georgia

If you've been looking for opportunity to starting a investment in Georgia for a while, you've heard many times that tax in georgia is very good and rates are laws and has a good tax system. Georgia has far fewer taxes than other European and Asian countries. Georgia ranks ninth in the world in terms of tax revenue, according to the World Economic Forum, and tax in Georgia is arguably a paradise for those looking to pay low taxes.

Income tax in Georgia :

Taxation in Georgia uses a new system. The explanation of this system is simply that if you do not withdraw the earned income from the company system, you are not required to pay income tax on it. But if, for example, your company made a profit of $100,000 in one year and you withdrew $10,000 of it for personal use, you should pay 20% of $10,000, i.e. $2,000, as tax in Georgia. This type of tax system, which is very popular in the world, helps businesses to grow.

VAT in Georgia:

VAT in Georgia is 18% and you have to pay any income from it, which is a very good number among European countries and neighboring countries. It should be noted that companies are exempted from paying VAT up to 100 thousand GEL. Also, this exemption is up to 200,000 GEL for individuals..

Customs tax in Georgia:

In Georgia, the customs duty on imports of various goods is between zero and 12 percent, depending on various issues, including the type of goods, the volume of goods and the country of export and production. To check the customs percentage of each product, you must inquire from the Georgian Customs Administration. For example, the customs tax on the import of agricultural equipment from Europe is zero and the customs tax in georgia on the import of tobacco is 12%.

Read more about Company registration in Georgia

We hope you find this article useful and enjoyable. If you need more specialized information about investment in Georgia, you can use the free advice of SisnoGorup experts.

Frequently asked questions about tax in Georgia

1 Is real estate in Georgia taxable?

No, property maintenance does not include taxes.

2 What is value added tax?

VAT is 18%, but companies are exempt from paying VAT up to the first 100,000 lari

3 What is real estate sales tax in Georgia?

If you sold the property two years ago, for the difference between the purchase and sale amount, if it is profitable, you must pay 5% as tax and sell the property after two years without tax.

4 What is the customs tax in Georgia?

Different goods have different customs tax, and there is zero to 12% customs tax.

5 How is corporate income tax calculated?

In the event of a personal withdrawal from the company's profits, you must pay 20% of the amount withdrawn as tax

We hope you find this article useful and enjoyable about tax in Georgia. If you need more specialized information, you can use the expert advice of Sisno Group.