Georgia - Overview and introduction

Georgia - Overview and introduction

Taxation of international executives

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

The income tax rate is 20 percent. 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 (withholding tax on dividends, withholding tax on interest, withholding tax on royalties paid to nonresident, rental income from residential property, taxable income derived from the sale of motor vehicle or a residential building along with the attached land) or 10 percent. For service payments (including interest and royalties) to a nonresident in the list of offshore countries designated by the government, the WHT rate is 15%

The rate is fixed, it does not depend on the total amount of income received.

The official currency of Georgia is the Lari (GEL).

Herein, the host country refers to the country to which the employee is assigned. The home country refers to the country where the assignee lives when he/she is not on assignment.

© 2016 KPMG Georgia LLC, a company incorporated under the Laws of Georgia, a part of KPMG Europe LLP group, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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