Giorgi Papava, Lead Economist and Practice Head for private sector development policy at ISET Policy Institute, represented Georgia at the prestigious International Scientific Conference "Distributed Profit Taxation – Polish and worldwide perspective" on December 9, 2024, at the SGH Warsaw School of Economics in Poland.

The recent amendment to Georgia’s tax code, known as the “offshores law,” has sparked significant concern regarding the integrity of Georgia’s financial system. This policy brief examines the implications of this amendment in the context of Georgia’s recent political and regulatory developments, which have raised alarms about the potential risks of money laundering and sanctions evasion.

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The profit tax system that came into force on January 1, 2017, in Georgia aims to create a favorable business environment, accelerate economic growth, and improve tax administration. This system is based on the distributed profit taxation regime, similar to the one implemented in Estonia.

The Tourism Reform incorporates the amendments envisioned by the Tourism Draft Law, which was initiated by the Parliament of Georgia. In addition, it encompasses planned changes in the tax benefits system for agritourism and wine tourism service providers.