Accounting is needed in Georgia for all types of businesses, including individual entrepreneurs (IE), limited liability companies (LLC), and joint stock companies. It serves as the foundation for the regular filing of tax returns and the payment of taxes.

Tax Declarations

Most businesses will be required to complete several declarations, the most typical of which are:

• VAT – Monthly (if the company is VAT registered)
• Income tax – Monthly (on salaries and payments to individuals)
• Small business declaration – Monthly (for IEs with small business status)
• Property tax – Yearly
• Profit / Dividend tax – Usually on a monthly basis
• Reverse VAT – Monthly (when receiving services from foreign companies)

The Georgian government has greatly streamlined the tax code. However, the advice of a qualified specialist is not a luxury but a necessity — especially if you want to take advantage of alternative tax regimes and preferences. A skilled financial professional can help you save money by utilizing tax breaks available under Georgian and international tax systems.

Tax Reporting via rs.ge

Tax reporting in Georgia is fully digital — all declarations are filed electronically through the tax service portal rs.ge. Upon business registration, each taxpayer receives an identification number and a personal account through which all communication with the tax authority takes place — filing declarations, receiving notifications, and tracking deadlines and liabilities. Accounting for individual entrepreneurs with small business status is highly simplified — declarations are filed monthly, and bookkeeping is done on a cash basis using bank transfers. This means income is recorded when funds are received, without the need for full accrual-based accounting. For LLCs, the scope of reporting depends on turnover and the applicable tax regime.

The Georgian Revenue Service is known for its cooperative and constructive approach toward taxpayers. When accounts are kept honestly and there are no attempts to conceal information, dealing with the tax authority is straightforward. The service values transparency and integrity — which makes resolving any issues significantly easier.

Annual Report and Audit

Larger companies are required to prepare annual financial statements in accordance with international standards (IFRS). The annual report is submitted to the Service for Accounting, Reporting and Auditing Supervision (SARAS). Businesses exceeding certain thresholds for revenue and employee count are subject to mandatory audit. For smaller IEs and LLCs, an audit is not required but may be needed when working with banks or investors.

Our Accounting Services

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

• Creating primary accounting documents
• Financial and tax optimization and consulting
• Preparation and filing of tax declarations via rs.ge
• Keeping you up to date on tax responsibilities and deadlines
• Preparation of tax-related documents
• Annual IFRS-compliant financial reporting
• Making bank transfers (if needed)

Pricing depends on the scope and type of reporting. We also offer a basic package that covers standard tax obligations without additional services — suitable for IEs and small LLCs with straightforward accounting needs.