Residents are taxed on their worldwide income.

Non-residents are taxed only on their Georgian-sourced income.

The income tax rate is 20 percent. The rate is fixed, it does not depend on the total amount of income received. There are cases (depending on the type of income, source of income, and/or status of beneficiary) for which the tax rate is 5 percent or 10 percent.

An individual is considered to be a Georgian tax resident if she/he resides in the country for at least 183 days per year.

The rates of the main Georgian corporate taxes are as follows:

• Corporate income tax: 15%;
• Value Added Tax (VAT): 18%;
• Import taxes fluctuate between 0% and 12%;
• Property tax does not exceed 1%.

In Georgia, there are no payroll, social security, capital gains, wealth, and inheritance taxes. Also, it should be noted that excise duties are levied only on selected types of goods, i.e., alcohol, tobacco, oil, gas, automobiles, and mobile communication services.