State budget tax revenue paid by foreigners increases in Georgia
Tax revenue paid by foreign-owned enterprises is steadily increasing, reports the commission. Photo: Nino Alavidze/Agenda.ge.
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Tax revenue for the Georgian state budget paid by foreign-owned enterprises in Georgia increased and reached 945.1 million GEL in 2018, reports data from the State Commission on Migration Issues.
Tax revenue paid by foreign-owned enterprises is steadily increasing, reports the commission.
Tax revenue paid by foreign-owned enterprises per year was the following:
- In 2015 - 719.6 million GEL ($243 mln/€219.2 mln)
- In 2016 – 820.4 million GEL ($277.1 mln/€249.9 mln)
- In 2017 – 827.5 million GEL ($279.5 mln/€252.1 mln)
There were 17,122 foreign-owned enterprises with active status which were paying taxes in 2018.
Most of them were registered in Tbilisi.
The Georgian Government is not going to increase taxes, but on the contrary – taxes will be reduced, announced Georgia’s Economy Minister Giorgi Kvirikashvili today.
Georgia’s Finance Minister Nodar Khaduri is requesting to increase the country’s tax revenue plan by 120 million GEL.
Georgia’s economic team is working on modifying the country’s profit tax rules, with the main goal to liberalise Georgia’s profit tax.
The number of Georgians returning back to homeland from Russia has increased 10 times over the past 10 years, Georgia’s State Commission on Migration Issues reports.
12,525 foreign citizens were working in Georgia in 2019 which is 828 more compared to the previous year, show data from the Revenue Service.