Taxation in Georgia (country)

Taxation
An aspect of fiscal policy
Policies Government revenue Tax revenue Non-tax revenue Tax law Tax bracket Tax threshold Exemption Credit Deduction Tax shift Tax cut Tax holiday Tax advantage Tax incentive Tax reform Tax harmonization Tax competition Double taxation Representation Unions Medical savings account Tax, tariff and trade
Economics Price effect Excess burden Tax incidence Laffer curve Optimal tax Theory Optimal capital income taxation
Collection Revenue service Revenue stamp Tax assessment Taxable income Tax lien Tax refund Tax shield Tax residence Tax preparation Tax investigation Tax shelter Private tax collection Tax farming
Noncompliance Tax avoidance Tax evasion Tax resistance Tax haven Smuggling Black market Transfer mispricing Unreported employment Tax shelter
Distribution Tax rate Progressive Regressive Proportional
Types Direct Indirect Per unit Ad valorem In rem Capital gains Carbon Consumption Dividend Ecotax Excise Fuel Georgist Gift Gross receipts Income Inheritance (estate) Land value Payroll Pigovian Property Sales Sin Single Stamp Steering Turnover Value-added (VAT) Corporate profit Excess profits Windfall profits Negative (income) Flat Wealth
International Financial transaction tax Currency transaction tax Tobin tax Spahn tax Tax equalization Tax treaty Permanent establishment Transfer pricing European Union FTT Foreign revenue rule
Trade Custom Duty Tariff Import Export Tariff war Free trade Free trade zone Trade agreement
Religious Church tax Eight per thousand Teind Tithe Fiscus Judaicus Leibzoll Temple tax Tolerance tax Jizya Kharaj Khums Nisab Zakat
By country List of countries by tax rates Tax revenues as %GDP Albania Algeria Argentina Australia Azerbaijan Bangladesh Bhutan Bulgaria BVI Canada China Colombia Denmark France Germany Greece Iceland India Indonesia Iran Ireland Israel Italy Japan Kazakhstan Lithuania Malta Namibia Netherlands New Zealand Norway Pakistan Palestine Peru Philippines Poland Russia Singapore South Africa Sweden Switzerland Tanzania United Kingdom United States Uruguay

Taxes in Georgia is collected on both state and local level. The most important taxes are collected on federal level, these taxes include an income tax, corporate taxes and value added tax. On local level property taxes well as various fees are collected. Personal Income tax in Georgia are collected at a flat rate of 20% on local-source income. Foreign-source personal income is tax-exempt.^[1] There are few allowances deductible.

Value-added tax is collected at a flat rate of 18%.There is few exceptions granted, nearly all goods and services are subjebt to VAT. Medical care, exports and education are exempt from VAT. Regardless of turnover a taxpayer have to register for VAT if it produces or imports goods. Turnovers of less than 100,00 GEL is exempt^[2]

Corporate taxes are levied at a flat rate of 15%, which was enacted in 2008. From 2017 onward, non-distributed profits are exempt from taxation.^[1] Very few deductions are accessible. This system was set up to attract foreign investment. Furthermore, excise taxes are on various luxury and environmentally damaging goods, such as wine and gasoline. Customs apply to some imported goods too. Only six different taxes apply.

References

1. 1 2 "Incorporation, Banking and Residency in Georgia - Flag Theory". 
2. ↑ "PWC - Value added tax" (PDF).