As a foreign business owner in Georgia, you may be liable to certain taxes, other that the corporate tax or the personal income tax. The republic of Georgia is a country that is constantly improving the taxation system and the rules and regulation for international executives in Georgia do not impose numerous taxes for the individual. Our Georgian company formation experts can help you understand the most important taxes in Georgia and prepare a good tax planning strategy.
Taxes for an international assignee in Georgia
Georgia is a country that has a good geographical location and many foreign business owners open import companies
or transport businesses here. As a non-native living and working in Georgia, you will have to pay certain taxes, most the income tax. Residents and non-residents in Georgia are only taxed on their income produced in Georgia. For this purpose, a resident is considered an individual that lives in Georgia for more than 183 days during one tax year.
If you own property in Georgia as a foreign business owner
here, you will have to pay the real estate tax. This is applicable on buildings, constructions or parts thereof owned by an individual. The tax level is calculated according on the income level for one year. For example, households that produce a total income per year below 40,000 GEL are exempt from the real property tax. The tax rates for other incomes range from 0.05% to 1% of the market value of the property.
Corporate gifts in Georgia are exempt from taxes, provided that they have a value below 1,000 GEL and if they are not received by employers. Gifts to first and second degree relatives are also tax exempt but those to other relatives are exempt only up to a certain amount.
Our Georgian company formation experts can help you calculate and submit any tax returns.
Georgia does not impose capital duty tax, stamp duty tax or capital acquisitions tax on individuals. Also, there is no net wealth/net worth tax for individuals and the country does not impose social security contributions.