Businesses located in highland areas to have opportunity to export goods without canceling tax preferences

In highland areas there are already 403 businesses which have already status of “highland business.” Photo: Nino Alavidze/Agenda.ge.

Agenda.ge, 06 Dec 2019 - 16:04, Tbilisi,Georgia

Georgian businesses located in highland areas now will have the right to sell their goods not only in highland areas,  but also in the whole territory of Georgia and will also be able to export their goods outside the county without losing their “highland business” status and thus without canceling their preferential tax status, announced the Ministry of Finance.

Also, selling goods on the territory of whole Georgia and exporting outside the country will not prevent businesses located in highland areas from receiving the status “highland business”.

The change will increase the interest of producing goods in highland areas and will support businesses which are producing their products there, says the ministry.

In highland areas there are already 403 businesses which have already status of “highland business.”

Businesses located in highland areas have preferential tax payer status. Specifically, business owners are free from income tax for 10 years and businesses are free from profit tax and property tax for 10 years.