The Government of Georgia is attempting to simplify the
country's Tax Code after Georgia signed its Association
Agreement (AA) deal with the European Union (EU) in mid-2014. While
major tax reforms regarding corporate income tax took place in
2017, Georgia continues to modify and update its tax system,
bringing several updates into force as of the beginning 2018.
VAT Returns
Georgia has further improved its tax legislation by introducing
an automatic system of value-added tax (VAT) returns starting from
15th of January. The state expects that the new system will result
in additional surplus capital for the country.
Using a special system, the entrepreneurs are able to pay VAT
returns in 5-7 business days by filling out an electronic
application without any additional paperwork. Following the
Estonian taxation model, VAT refunds will be done if there is a
surplus of VAT inputs over outputs, which is very beneficial for
small and medium businesses with deficit in
