[2] However, the definition of "foreign-source" is widely mis-represented, and further reading of the tax code reveals that income from abroad, earned through active work (on a laptop, for example) while physically present in Georgia, would be considered Georgian-source even if said income was never remitted to Georgia or derives from a foreign source.
[citation needed] Personal income tax for interest, dividend and royalty is 5%.
[4] Therefore, their aim is to create a platform for manufacturing, processing of goods and their export from Georgia.
Free Industrial Zone entities are exempt from almost all taxes within the income received from mentioned eligible activities.
[6] New International Company status gives reduced tax rates for eligible entities.
For individuals selling their real estate, there's no VAT registration or pay obligation.