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Economy

Georgia to Buy only Azerbaijani Gas

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In 2017 Georgia will not buy Russian gas and satisfy 96% of the domestic demand only by Azerbaijani gas. Minister of Energy Kakha Kaladze said that Agreement signed with Gazprom enables the country to buy Azerbaijani gas by the money raised from Russian natural gas transit to Armenia. “We also …

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Rikoti Highway Project Estimated at 0.8-1 billion USD

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Several hundreds of millions of USD will be spent on Rikoti project implementation. Highway construction works will start in 2018. Giorgi Seturidze, head of Roads Department told Business Course that the project is very expensive and its budget will be about 0.8-1 billion USD. “Designing works are being carried out …

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Georgian Airways Launches Direct Flights To Paris

Palais du Louvre

Georgian Airways will launch another direct flight to Paris, starting from the summer season. Head of the company told business course, airlines will perform that two flights per week. “From the summer season we wish to launch flights, however we are working on this and are carrying out negotiations,” says …

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India, Georgia Begin Free Trade Agreement Talks

India Free trade

India has begun the process of negotiating a free trade agreement (FTA) with Georgia and the two countries on Tuesday decided to launch a joint feasibility study for the same. “In this regard, the Joint Feasibility Study Group consisting of the officials of the two countries has been established,” commerce …

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Government Proposes Seed Mandatory Certification Initiative

Seeds

Government of Georgia has proposed an initiative introducing a mandatory certification of seed materials. Agriculture Ministry has already prepared a bill and the parliament has already launched discussion process. Purpose of the bill is to ensure a supply of top-quality seed material to the market. In a year after the …

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Standard & Poor’s Positively Estimates Starting Data of 2017 for Georgia

Standard & Poor’s Positively Estimates Starting Data of 2017 for Georgia

Standard & Poor’s positively estimates Q1, 2017 for Georgia.vDeputy Finance Minister has met analysts of International Rating Company. Nikoloz Gagua talked about the reforms and achieved economic growth of 4.8% through January-February.  Standard &Poor’s has assigned a credit rating of “BB-” level, the forecast “stable” and it will be reviewed …

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ENPARD Report: Total Revenues of Cooperatives Rose by Averaged 19% Year on Year

Enpard

European Neighborhood Programme  for Agriculture and Rural Development (ENPARD) has published an annual report on development of agriculture cooperatives financed by EU in Georgia. Under the report, the program has financed more than 260 cooperatives (financial component will be maintained in 2017 too). ENPARD has invested about 12 million GEL, …

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Corporate Income Tax Reform in Georgia

tax-planning

Corporate income tax (CIT) is one of the six taxes defined by the Georgian tax legislation. In 2014 CIT was 11.5% of all tax revenues and 2.8% of GDP. Pursuant to the tax code of Georgia taxable profit shall be a taxable object of a resident enterprise. Article by Giorgi …

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