Paying Taxes in Georgia

The table below addresses the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year in Georgia, as well as measures of administrative burden in paying taxes.

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Tax or mandatory contributionPayments (number)Notes on PaymentsTime (hours)Statutory tax rateTax baseTotal tax rate (% profit)Notes on TTR
Corporate income tax4 14015.0%taxable profits13.3 
Property tax1 -1.0%all fixed assets minus land1.8 
Tax on interest0 -10.0%interest income0.3not included
Land tax1 -0.24 per sq. meterland area0.2 
Personal income tax0 67abolished 1 January 2008gross salaries0 
Value added tax (VAT)12 18018.0%value added not included
Totals:18 387  15.3 


Notes:
Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.
The hours for VAT include all the VAT and sales taxes applicable.
The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.