Georgia has introduced amendments to its Tax Administration Law aimed at strengthening support mechanisms for businesses engaged in innovative activities.
The changes align tax administration procedures with the Law of Georgia on Innovation and are designed to simplify tax compliance for entities operating as innovative small and medium-sized enterprises (SMEs).
As part of the amendments, withholding tax and corporate income tax declaration procedures have been updated. In particular, the corporate income tax declaration now includes a new calculation form for distributed profits that are subject to corporate income tax for companies holding the status of an innovative SME.
These updates are intended to ensure more accurate tax reporting, improve transparency, and reflect the specific tax treatment applicable to innovative businesses. By adapting tax declarations to the needs of innovation-driven companies, the Georgian tax system continues to encourage entrepreneurship, technological development, and sustainable business growth.
The amendments represent another step in Georgia’s broader efforts to create a supportive regulatory and tax environment for innovation and investment.
