Taxation in Free Industrial Zone

 

• Free Trade Zone incorporated entities are exempt from Property Tax;
• No VAT applies to goods produced in foreign countries which are imported in free trade zone;
• No VAT applies to the transactions carried out among Free Trade Zone incorporated entities;
• No import tax applies to goods produced in other country imported in Free Trade Zone;
• Export of the goods produced in Free Trade Zone within territory of Georgia is free from Customs duty;
• Please note that entrance of the goods produced in Free Trade Zone within the territory of Georgia is considered to be an export operation for the purposes of the Tax Code of Georgia.
• No foreign exchange controls, trade barriers of quotas;
• No restrictions on capital repatriation;
• Corporate Profit Tax for Service Companies 20%

Profit gained by an international enterprise from an activity carried out in free trade zone is exempt from profit tax.

Employees of the entities incorporated in the Free Trade Zone pay the revenue tax via declaration as Free Trade Zone incorporated enterprise is not considered as tax agent in relation to salary paid by it and does not have to withhold tax at the source of payment.

 

 

Need more information or start a company in Free Trede Zone? Call us (+995) 555 940 077 or send an email to info@freetradezone.ge.