In October 2020, the Georgian government launched a program available for companies offering IT and maritime services wishing to acquire the status of an international company within the country. In just over half a year, 3 maritime and 14 IT companies have already received such international status.
The list of Tax incentives for companies with international status include:
- Profit Tax - 5% instead of the usual 15%
- Dividends Tax - 0% instead of 5%
- Personal Income Tax - 5% instead of 20% (plus pension contribution 2% from employer and 2% from employee)
- Property Tax (except land) - 0%. In case this property is intended for or used to carry out the permitted activities of the international company.
The status of an international company and all the above taxation terms will apply provided the company is registered in Georgia and has minimum of two years' experience in the permitted activity within the country.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.