Georgia to Introduce Estonian Model of Corporate Income Tax
Head of the Georgian Government has announced that the state is actively working to establish the Estonian corporate income tax model in Georgia’s economy.
Prime Minister of Georgia, Giorgi Kvirikashvili revealed that consultations about this issue are carrying on with the representatives of the International Monetary Fund and the majority of the Georgian Parliament.
“The government has begun work regarding tax liberalization. This means that the taxation corporate income tax only in the case of profit sharing. Earnings will be created in the company and the economy will be taxed only if it is granted as distributed dividend. If companies reinvest their incomes they will be free from taxes. This will help to attract the potential of investment resources existing in local market, “ Kvirikashvili stated.
The system of corporate earnings taxation in force currently in Estonia is a unique system, which shifts the momentum of corporate taxation from the moment of earning the profits to the moment of their distribution.
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