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New Tax Regime Results in More Companies Entering the Market

More than 200 companies registered in 2 days since the announcement of the new tax regime. 

The new tax regime imposes a minimum tax burden (1%) for small businesses. With changes in law and regulation, a new definition is given to small business owners: entrepreneurs whose yearly company income amounts to GEL 500,000 instead of GEL 100,000.

The new tax regime is to ensure transparency, cost minimization and increase in GDP. Entrepreneurs are already motivated to enter the market, expand operations and obtain further funding. 

By Anna Zhvania

Related Story: New Tax Regime Imposes Min Tax Burden of 1% for Small Businesses

06 July 2018 12:41