The following entry will be added to the second
Posted: Sat Jan 04, 2025 4:42 am
For example, let's assume that a small entrepreneur received 10,000 GEL in income, of which 1,500 GEL was generated from consulting services (prohibited activity) and 8,500 GEL from translation services (permitted activity). Since the small entrepreneur carried out a prohibited activity, his small entrepreneur status will be revoked and his entire income (10,000 GEL) will be taxed at 20%. The second list of the aforementioned Resolution No.
415 provides for types of income that are not taxed at 1%, however, in parallel with receiving such income, income from permitted activities may be taxed at 1%. The second list includes property leasing/renting, royalties, dubai fax data and others. For example, if a small entrepreneur had a total income of 15,000 GEL, of which 5,000 GEL was earned from renting out property and 10,000 GEL from translation services, the small entrepreneur would be taxed at 1% on 10,000 GEL and at the appropriate rate (5% or 20%) on 5,000 GEL.
His/her small entrepreneur status would not be revoked. Tax change that removes 1% tax relief for small businesses providing construction services list of Resolution #415 of the Government of Georgia (the change will enter into force on February 1, 2025): "12. Income received from the provision of residential and non-residential building construction services, civil construction services, and/or specialized construction services, as provided for in Section 42 of the Georgian National Classifier SEC 006-2016, if the recipient of the said service is an enterprise, organization, or individual entrepreneur as provided for in the Tax Code of Georgia.
415 provides for types of income that are not taxed at 1%, however, in parallel with receiving such income, income from permitted activities may be taxed at 1%. The second list includes property leasing/renting, royalties, dubai fax data and others. For example, if a small entrepreneur had a total income of 15,000 GEL, of which 5,000 GEL was earned from renting out property and 10,000 GEL from translation services, the small entrepreneur would be taxed at 1% on 10,000 GEL and at the appropriate rate (5% or 20%) on 5,000 GEL.
His/her small entrepreneur status would not be revoked. Tax change that removes 1% tax relief for small businesses providing construction services list of Resolution #415 of the Government of Georgia (the change will enter into force on February 1, 2025): "12. Income received from the provision of residential and non-residential building construction services, civil construction services, and/or specialized construction services, as provided for in Section 42 of the Georgian National Classifier SEC 006-2016, if the recipient of the said service is an enterprise, organization, or individual entrepreneur as provided for in the Tax Code of Georgia.