The 1% tax rate is payable every month (no later than the 15th day of the next month). Simple tax declarations must also be sent no later than the 15th of each month. Apart from that, you should keep a special journal proving all of your expenses. Our accountant can handle all the paperwork if you don’t want to do it yourself
How Many Days Should I Plan To Be In Georgia? Can I Receive IE Status Remotely?
You need to plan to be here for a minimum of 3, an average of 4, and a maximum of 5 days.
But a visit is not required. We can open both a company and a bank account within a week with just a Power of Attorney.
How About Banking For IE?
A bank account for an Individual Entrepreneur can be opened both in Georgia and in Digital Banks.
You need not pay taxes on a salary of up to GEL 6000 annually if:
You registered as an Individual entrepreneur and received SMALL BUSINESS status in the same year
Your income was not more than GEL 50,000 during the previous year
Income taxed at 1% or 3% is calculated without VAT (18%)
When Is My SMALL BUSINESS Status Cancelled?
When you contact the Revenue Services office to cancel it
If your annual income exceeds GEL 500,000 per year in two consecutive years under the active SMALL BUSINESS status