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Vietnam Introduces with Georgia’s Tax Reforms

Vietnam Introduces with Georgia's Tax Reforms

Vietnam’s delegation is introducing with Georgia’s tax reforms. The delegation of the Ministry of Finance of the Socialist Republic of Vietnam, headed by Deputy Finance Minister, Do Hong An Tuan visits Georgia for that purpose. First Deputy Minister of Finance, Giorgi Tabuashvili, Head of the Revenue Service and Lasha Khutsishvili, …

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Georgian Perspectives of Estonian Model

Estonian Model

Mirian Ejibia ISET MA: eugeorgia.info Key component of Estonian Model calls for exempting undivided profit from tax burden. After introduction of Estonian Model in Georgia, a major part of business entities will be partly exempted from profits tax. These bodies will be taxed if profits will be issued in the form …

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Georgia Welcomes Estonian Taxation Model

The Georgian parliament adopted changes to the country’s tax laws to introduce a new system of levying income tax on business. It will only have to be paid if corporate profit is distributed. Estonia introduced a similar model in 2000. The Georgian parliament adopted changes to the country’s tax laws …

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Fate of Georgian Wines – Russia to Increase Wine Imports Tax

WINE, Russia TAX

Georgian wine exports to the Russian Federation may decline. Higher taxes will create problems to distributors  and producers. It is not known when exactly the new rate will come into force, but the working process was intensified in this direction. Russia plans to double excise tax on wines. Ministry of …

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KPMG in Georgia Adds a Second Partner As Business Doubles

Over the last three years the revenues of KPMG in Georgia have doubled, reflecting growth in all service lines (Audit, Tax & Legal and Advisory). Since 1 October 2016 Kakha Rukhadze is officially promoted to Partner in the KPMG CIS LLP partnership, increasing the number of Partners in KPMG Georgia to two. This promotion …

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Overview of Changes in Georgian Legislation: Grant Thorthon

The Georgian Parliament adopted important amendments to the Tax Code. Amendments foresee implementation of the so-called Estonian model of corporate income tax (CIT). Latest amendments to the Tax Code also relate to value added tax (VAT), Personal Income Tax (PIT) and excise tax, as well as certain procedural changes in …

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New System of Profits Tax to Come into Force in 2017

New System of Profits Tax to Come into Force in 2017

Deputy Finance Minister Lasha Khutsishvili has taken part in the round table of the UN top political forum: “Reform of Internal Resources Mobilization in Partner Countries and Role of Addis Abeba Tax Initiative”, where he updated the meeting participants about the Georgian experience in cooperation as part of the initiative. …

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George Welton to Popularize Georgia Worldwide as Investor-Friendly Country

George Welton to Popularize Georgia Worldwide as Investor-Friendly Country

George Welton, CEO of the American Chamber of Commerce in Georgia, positively appraises the profits tax reformation initiative and expects this legislative bill to encourage reinvestments, create new job places and intensify economic development. The tax administration will be also simplified as part of the reform, he added. “This initiative …

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New Income Tax to be Launched on July First this Year

New details regarding Georgia’s  income tax reform  have become known. Finance Minister said after the Cabinet Meeting that the reform would  not apply to banks, insurance companies, micro-finance organizations, entrepreneurial individuals and non-profits. When asked by CBW on the income tax exceptions criteria, the Finance Minister said that these sectors do not really …

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