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Government offers tax reliefs to international companies

Government offers tax reliefs to international companies
Government offers tax reliefs to international companies

The government today will select the fields in which the companies operating will be granted international status. Prime Minister Giorgi Gakharia stated that companies with this status would benefit from doing business in Georgia at the beginning of the government session.

According to the Gakharia, it will most likely be companies related to maritime business and IT companies.

According to Gakharia, income and profit taxes for Georgian and foreign companies with international status will be reduced by 5%.

"We have made an amendment to the Tax Code, which allows us today to impose significant tax benefits on companies that will be granted the status of international companies. Maritime business and IT companies - as you know, these two areas are significant for developing the global economy and Georgia because transport and logistics are one of the important sectors of the economy," Gakharia explained.

According to the head of government, tax benefits are important for companies to attract and encourage local and foreign investment.

"In the post-pandemic economic recovery period, the global economic competition will be extremely fierce, and we are allowing Georgian companies to gain international company status as well as international companies to create a comfortable platform to work from Georgia," Gakharia said. 

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