This page offers an overview of tax developments being reported globally by KPMG member firms in response to the Novel Coronavirus (COVID-19).
The content will be updated regularly. However, due to the fast-moving pace of change, it may not always reflect the most current developments in a given jurisdiction. Please refer to the date of accuracy and refer to the relevant links, under additional information, for original source information.
On April 2020, The government announced a GEL 2 bn (4 percent of GDP) support package (which enhanced the GEL 1 billion package announced on March 13). The initial package included :
The Government of Georgia will postpone the liability of payment of property and personal income taxes for the enterprises engaged in tourism-related activities and other entities whose business activities have ceased due to the current state of affairs, until 1 November 2020. Enterprises operating in the tourism industry include hotels, restaurants, travel agencies, transportation companies etc. For the purpose of obtaining the relief, taxpayers are required to submit an application to the Revenue Service of Georgia. Furthermore, no late payment interest will be assessed on deferred tax liabilities.
The automatic VAT refund mechanisms will come into force and VAT surplus funds will be doubled (this yeas, business will receive an additional 600 million GEL).