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Georgia among the Countries with the Lowest Tax Rates in the World

According to the rating of the World Bank, Georgia is ranked   9th among the countries with the lowest tax rates in the world.

The study says that businessmen pay  much attention to the tax rates while  expanding their activities. Many governments also often compete with each other in this matter. The main criterion for calculating is the collection of all taxes and the overall tax burden on business – consequently, the income tax paid by employees, not businesses, is not taken into account.

Hong Kong is on the bottom of the list (18th), where the tax burden amounts to 22. 8%.

The former Yugoslav Republic of Macedonia tops the ranking – 7, 4%.

Georgia is ranked 9th – 16, 4%. According to the report, Georgia is  the first of the post-Soviet countries, which reduced taxes and introduces a system of low taxation. Among the countries of the former Soviet Union, Armenia also was included in the list – it takes the 13th place, the tax burden – 20, 4%.