VAT in Georgia: Payment Obligations and Timeline
Value Added Tax (VAT) is one of the most common taxes in the world and levied on all goods and services produced or provided within the borders of each state. Georgia is not an exception, and VAT occupies an important place in the tax system. In this article, we will consider the main aspects of […]
The Importance of Due Diligence in Business: A Comprehensive Guide
Georgia is recognised as one of the world’s most business-friendly country. With minimal bureaucracy and no restrictions on foreign ownership, it offers an ideal environment for entrepreneurs and investors. Positioned strategically between Europe and Asia, Georgia serves as a gateway to both markets, making it a prime location for business ventures. Its excellent transport infrastructure […]
Changes to the “Customs Code of Georgia”
Changes to the “Customs Code of Georgia” — The “Customs Code of Georgia” has undergone changes with regard to the declaration of goods. Previously, there was a restriction on making changes to the temporary storage of goods and customs declaration. However, this reservation has been lifted, allowing for modifications. As a result, it is now […]
Revocation of Small Business Classification and Closure of Individual Entrepreneur Status
Revocation of Small Business Classification and Closure of Individual Entrepreneur Status The Tax Code of Georgia was amended on April 18 to allow individual entrepreneurs to revoke their small business classification before the end of the year. As per Article 89, if an individual entrepreneur applies to the tax authority for cancellation before the end […]