Georgian Enterprises: New Financial Reporting Requirements In 2021

New financial reporting requirements will affect Georgian enterprises in 2021. For those affected, reports must be submitted before October 1st, 2021, and will relate to the reporting tax year of

Tax Advice

Why Some Freelancers DON’T Qualify For The 1% Tax Rate

Many freelancers in Georgia take advantage of the Small Business Status (SBS), which allows them to reduce their income tax to just 1% on turnover. For those freelancers and solo entrepreneurs

Tax Advice

10 Common Tax Myths: Are you Unknowingly Evading Tax?

The Republic of Georgia certainly has some serious benefits associated with its tax system, compared to high tax countries like much of Western Europe, the USA, Australia, and others. That

Tax Advice

Will You need To File An Annual Tax Return In Georgia?

Will you need to file for the most recent reporting year in Georgia (country)? If the following is true, then the answer is probably "yes". Did you: Spend any time in

Tax Advice

NEW: Georgia VAT Rules for 2021

Even if you are not VAT registered and don’t intend to be, some of these rules affect all business owners operating in Georgia. Summary ALL purchases by a Georgian business of products

Tax Advice

Huge Tax Breaks: NEW International Company Status in Georgia (Country)

5% corporate tax, 0% dividends tax and only 5% tax withholding on employee salaries. It might be time to move your IT company to Georgia (country). On October 8th 2020, the

Tax Advice

Why reverse-VAT affects your foreign owned Georgian business & how to eliminate it

If you operate a Georgian business which buys products and services from abroad, then you need to declare and pay Reverse Charge VAT (18%) in your monthly declarations to the

Tax Advice

Tax Liability For Foreign Business Owners Living In Georgia

Do you manage your foreign business remotely from Georgia? If you didn't register that business with the Georgian authorities, you may be breaking the law, and even owe back taxes

arriving to Georgia

Tax Advice

The No.1 Tax Mistake Costing Foreigners $Thousands In Georgia

Tax residency in Georgia is automatic after 183 days in any rolling 12 month period - this is a legal fact, not a choice, no matter which country you come

Tax Advice

Why 80% Of Expats In Georgia (Unintentionally) Break The Tax Law – The Myth Of Tax Free Foreign Income

Is all your foreign income tax free if you live in Georgia? To answer simply: no. If you’re a foreigner looking into the tax consequences of relocating to Tbilisi, Georgia, you’ve

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