BAKU, Azerbaijan, Dec.4
By Tamilla Mammadova – Trend:
Big foreign IT companies are entering Georgia's market, Trend reports via Georgian media.
EPAM Systems was the first to start registering a subsidiary in Georgia and the procedures for using the newly established tax incentives for an international company. EPAM Systems was the first to become interested in the initiative of the Georgian government.
Exadel is the second IT company to open its operations to Georgia.
According to the decree of the Georgian government dated October 8, 2020, IT companies with international status will enjoy tax incentives, which provide for the payment of VAT at 15 percent and taxation at 5 percent instead of 20 percent.
And also, according to the decision of the government, it was established the definition of the status of international companies, the types of activities permitted for them and a list of individual costs.
“This is a unique opportunity for the population of our country to get a well-paid job. It should also be noted that in addition to tax incentives, the large-scale retraining program of Georgian Agency for Innovations and Technologies has turned out to be attractive for international technology companies, within the framework of which a total of 3,000 IT specialists will be retrained," said Avtandil Kasradze, Chairman of the Georgian Agency for Innovation and Technology.
"After undergoing international training, the program participants will receive an official international certificate in accordance with their qualifications, which will facilitate our citizens' employment in international companies,” said Kasradze.
In order for a company to benefit from tax benefits, it must have at least two years of experience in a licensed business, and can also be a representative of a non-resident enterprise in Georgia.
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