Accounting is needed in Georgia for all sorts of businesses, including sole proprietorships, limited liability companies, and joint stock companies. It serves as the foundation for the regular filing of tax returns and the payment of taxes payable on a monthly basis.

Important: Our comprehensive service package for opening an IE in Georgia includes guidance on how to fill out monthly declarations (for basic types of IE) and pay taxes on your own.

Most firms will be required to complete a couple of declarations, the most typical of which are:

• VAT – Monthly (If the company is VAT registered)
• Income tax – Monthly (Could be yearly for specific tax regimes)
• Property tax – Yearly
• Profit / Dividend tax – Usually on a monthly basis

The Georgian government has greatly streamlined the tax code. However, the advice of an expert accountant is not a luxury but a necessity.

Furthermore, if you want to employ alternative tax regimes and preferences, a rigorous approach is the cornerstone of effective tax reporting, as well as the benefits of reduced taxes in some situations. A good tax accountant can help you save money by utilizing numerous tax breaks provided by Georgian or international tax systems (Diagonal cumulation is one of the examples)

Aside from avoiding possible issues, bookkeeping is a time-consuming process that needs not only a mastery of complex tax regulations, but also a precise approach. And this obligation frequently adds enormous stress to the lives of business owners and executives.

Furthermore, the transactional expense of locating, negotiating, and hiring a seasoned accountant to dedicate just a small number of hours each month is high. As a result, most organizations that strive to hire accountants must settle for less competent team members.

As a result, accounting is one of the most outsourced processes in the world.

Georgiafy provides its customers with a full range of accounting services in Tbilisi and all over Georgia, including:

• Creating primary accounting documents
• Financial and tax optimization and consulting
• Tax preparation services (Preparation and filling of tax declarations)
• Keeping you up to date on tax responsibilities and deadlines
• Preparation of tax-related documents
• IFRS-compliant financial reporting (required since 2021)
• Making bank transfers (If needed)
• *NOTE: Fees may apply for more sophisticated tasks.