Georgia’s laws for start-up businesses, low tax rates and strategic geographical location are the criteria that many foreigners consider Georgia a favorable destination for their business.
According to the World Bank, Georgia ranks fourth in the world with the lowest tax rate.
At this stage, there are 6 types of taxes:
Excise tax – only on some types of products, such as tobacco, alcohol, oil, gas and mobile communication services.
Exception for cryptocurrency resellers: According to the public declaration of the Ministry of Finance of Georgia, the financial profit received by individuals from the resale of cryptocurrency is exempted from income tax taxation.
Through reforms, Georgia has established a tax policy that offers businesses the chance to develop the economy and promote growth by reducing tax costs, which is why the tax regime in Georgia is softer than in most European countries.