We have accounting packages for every level of business. From freelancers and startups, to international corporations. From seasoned business professionals to first time remote workers.
+VAT, Per Month
Designed for LLCs, Individual Entrepreneurs and freelancers with simple accounting needs.
+VAT, Per Month
Designed for LLCs.
Or, Individual Entrepreneurs with more complex accounting needs.
+VAT, Per Month
Our premium service is more than just accounting.
We are on call with tax, accounting and business legal support.
* A transaction is each incoming or outgoing money movement, usually corresponding to a row on your bank statement or the event of cash movement. Included transactions depends on your package. Because of the significantly increased work to account for international expense transactions - which require the filing of Reverse VAT and Withholding Tax, on many occasions - we typically only include domestic expense transactions in our Lite packages.
Additional hours for our pay monthly clients: ₾125 GEL + VAT per hour.
Standard rate for non-monthly clients: ₾250 GEL + VAT Per hour.
Need help, or want to book your hourly accounting services:
Our pricing is based on typical monthly transactions. If you exceed your account limit slightly in a single month, typically there will be no extra fee or package upgrade needed. If you exceed the limit in 2 consecutive months, or multiple months in a year, then we will discuss with you if increasing your plan is needed.
Our commitment is, if the work will exceed your package inclusions we will always inform you before performing the work or charging you an additional fee. No surprise invoices.
If you have intermittent accounting - some months with high volume, some with low - then we are normally happy to average out the work to whichever package will fit. Please request a quote above and describe your situation so we can confirm for your unique case.
Monthly filing is common in Georgia for most businesses. So, most likely you do.
Types of people/businesses that would not need to file monthly:
Natural Person (Anyone who has not registered a business in Georgia. An employee, for example. Or someone who does not have taxable income.)
Individual Entrepreneur without Small Business Status (Persons who do not qualify for the 1% tax rate, such as architects, consultants etc. Read more here.)
Micro Business (If you are a registered Micro Business with less than 30k GEL annual income)
All of the above types would file annually, rather than monthly. If you don't fit with any of these, then monthly filing is likely required. Penalties for missing filing dates (15th of each month) can apply.
The monthly requirements are significantly more complex and time consuming than many other countries.
You may be familiar with an accountant's primary job as being a bookkeeper, tracking income and expenses each month and then filing that information once per year.
In Georgia, those with monthly filing requirements essentially have to do all the bookkeeping work, plus filing everything and keeping on top of things like reverse-VAT, withholding (see below) and even reports to the Statistics Service (in some cases).
On top of this, with many foreigners, all their banking is done outside of Georgia, or using online or personal bank accounts. Meaning that all their bank statements/invoices need to be checked manually by our accountants. Software like Quickbooks and other typical solutions your accountant might use in the USA/EU etc. are not available within the Georgian system. The Georgian equivalents cannot connect to any banks apart from corporate accounts at local banks in Georgia. Meaning, automated accounting and filing for most foreign business owners is often impossible.
Most foreigners have international expenses. Unlike Georgian (domestic) expenses, these have to have Reverse VAT, and sometimes withholding tax, declared on them. Both of these processes incur significant amount of overhead for your accountant. More information below.
For this reason, our Lite package only includes income transactions and local Georgian (domestic) expenses. But, of course, the Lite package also includes the very long list of benefits present at the top of this page. With ExpatHub you are not just hiring an accountant to file a few transactions, you are getting a full accounting service to keep you 100% legal, to be proactive on your behalf and ensure nothing is missed each month.
Purchases/expenses or services deriving from countries other than Georgia will require the declaration and payment of 18% Georgian Reverse VAT. You are required to actively submit these declarations to the RS in all circumstances where Georgian VAT is not already collected at source (in the way it would be if purchasing from a local Georgian company, for example).
This tax is applied on all services. Everything from your monthly Zoom account to contractors you hire outside Georgia. It is not applied to goods, though regular VAT may be charged at the time of import of goods to Georgia.
IMPOTANT: Reverse VAT is due, regardless of if your own business is VAT registered. But, if you are VAT registered, you can typically claim it back at time the of declaration so no actual payment will take place.
Reverse VAT is a little complicated and we have a full guide on understanding it here.
Tax withholding is always due on expenses/purchases derived from suppliers in non-treaty countries - those without a Double Taxation Treaty with Georgia. And, also when the supplier in the treaty country is not able to provide proof of their tax residency of that country.
Withholding tax rates:
* 0% For certain treaty countries, so long as the supplier can provide a tax residency certificate.
* 10% Most non-treaty countries (including USA) or treaty countries where the supplier cannot provide a tax residency certificate, or where the treaty does not allow for 0% withholding.
* 15% Preferential tax jurisdictions (low tax countries / offshore jurisdictions). This also includes India and the Philippines.
Upload your relevant documents to your private and secure dataroom, including:
* Invoices (incoming and outgoing).
* Any and all bank statements from which business transactions occurred.
* Contracts with your service providers and clients.
* Proof of tax residency of service providers in treaty countries where tax withholding may be due.
In addition, you are responsible for paying your monthly tax bill to the treasury from a Georgian bank account (can be paid from any Georgian bank account, not just from one in your name). Unless otherwise listed above, and we agree to pay on your behalf through an account you authorize us to have access to.
If you will not be in Georgia, make sure to have the bank's digipass app installed so you can get authorization codes without receiving an sms.
When it comes to additional fees, essentially, anything that falls outside of the scope of inclusions in the package you choose. And/or additional workload relating to the inclusions which will incur significant additional time by our team, that would not be considered a normal part of your typical monthly accounting.
* If you were audited and we had to deal directly with the RS to manage all their audit requests and provide documentation beyond standard exports of monthly records and forwarding of the invoices and bank statements etc. which you had already supplied to us in the course of your monthly accounting.
* Notification requests inside the RS portal for tasks relating to non-inclusions or taking more time than your typical monthly package would allow for.
* Custom work outside of scope, or from a package above your current subscription level.
* Additional consulting beyond your monthly limit.
* Advice by email outside of the scope of your support level.
* Anything else that is out of scope - but we will always inform you before the work is performed that a fee may be incurred, plus provide an estimate where possible, so you can approve before the work commences.
This is a non-exhaustive list. You can always ask us if you are unsure about inclusions/exclusions.