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Special Report

September 13, 2018

Previous Issues:  Days: < 03 10 13 17 18 > 

 

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legislation

    TAX & LAW BRIEF

    PwC Georgia

    SIGNIFICANT AMENDMENTS IN GEORGIAN TAX CODE

    According to the amendment, which has been published on the Legislative Herald of Georgia on 12 June 2018:

    - Organizations conducting economic activities are also moving to new Corporate Income Tax (CIT) regime from 2019 and are becoming subject to taxation on the following transactions:

    -- Incurring expanses which are not related to economic activities and/or purpose of organization (including the expenses not related to charity activities and/or the purpose of grant agreements);

    -- Free of charge supply of goods / delivery of service and/or transfer of funds, when it is not related to purpose of organization;

    -- Incurring representative expanses that exceeds the limit determined by Georgian Tax Code (GTC).

    - For the relations arisen from 1 January 2018, a company/organization or an individual entrepreneur who reimburses the service fee amount to individuals should withhold tax at the source of payment.


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