All about taxes in Georgia in 2024. Learn how to save on taxes for a foreign entrepreneur in Georgia in 2024

Types of taxes in Georgia in 2022

In order to understand Georgia's tax system and its charges, you must carefully study the laws, codes, and other legal acts. Profitable businesses are formed thanks to a system that is controlled by the state. At the same time, legal statuses of virtual and free industrial zones are formed. They have special conditions for paying taxes.

The main types of mandatory taxes in Georgia in 2022 include

1. Value added tax

VAT in Georgia has not changed much since 2008. It is 18%, while a number of goods and services are not taxed.

2. On the profit of the organization

If the profits of the company are specified, the tax will be 15%; if the profits are reinvested for the further development of the business, no tax will be paid.

If profits are sent to the account of the owner of the business, he will pay additional tax on dividends from this amount

3. For dividends

This type of tax always comes with the withdrawal of company profits to the account of the founder. Thus, the owner of the company pays both profit tax and dividend tax at the rate of 5% of the amount withdrawn

4. Income tax

The standard tax imposed on all employees is 20%. At the same time, the amount is accrued under the Estonian system, in which the actual value after payment is 25%.

There are no social payments, and pension payments are accrued only for residents of Georgia

5. Import tax

Depending on the category of goods and the country for import, the amount ranges from 0 to 12%

6. Tax at source

Various transactions of non-residents of Georgia with sources that do not have a permanent establishment are subject to this tax without deductions. The rate depends on the type of services rendered, the maximum amount is 15%.

It is important to understand that there is an agreement with a number of countries, according to which if you pay tax in one country, you are exempt from them in another country

7. On Property

Real estate is also taxed, but the tax rate depends on the region and several other aspects. The amount varies from 0 to 1%

8. Excise

The excise tax is actually paid by the consumer because it is built into the price of the goods. The rate is quite different and is not fixed by the state.

Filling out your returns correctly, understanding the structure of the country's tax system, and knowing about the taxes in Georgia in 2022 allows entrepreneurs to run a successful business in Georgia.

Familiarize yourself with the laws, use the services of lawyers, and develop your own profitable business!