On September 16, the Georgian government officials in Tbilisi announced important changes to tax legislation speaking at the 2nd StrategEast State and IT Eurasian Forum.
At the ‘Future Tech Labor Market in Eurasia’ panel discussion, Irakli Nadareishvili, Deputy Minister of Economy and Sustainable Development of Georgia explained that the government of the country had prepared new, reduced tax rates for IT industry enterprises. According to the Deputy Minister, for such companies, the tax will be reduced “to a percentage close to zero.”
During the ‘IT Industry in Georgia’ panel discussion, Avtandil Kasradze, Chairman at Georgia’s Innovation and Technology Agency clarified that the tax would be reduced from 20% to 5%.
The forum participants admitted that such a measure would attract large Western IT companies to Georgia and significant foreign investments in the country’s IT industry.
At the opening of the 2nd StrategEast State and IT Eurasian Forum, Arkadiy Dobkin, Founder and President at EPAM Systems, announced that the company would start operations in Georgia as early as next month.
