18
September
2023
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.
06
September
2023
Georgia is actively addressing gender equality and women's economic empowerment (WEE) within its investment climate and national policies. Despite legislative efforts to align with EU directives, women-owned SMEs face significant challenges in accessing finance, impacting overall economic growth.
01
September
2023
In July 2023, Georgian power plants generated 1,541 mln. kWh of electricity. This represents an 18% increase in the total generation compared to the previous year (in July 2022, the total generation was 1,308 mln. kWh). The rise in generation on a yearly basis comes from a rise of 8% in Hydro and 8% in wind and 45 times in thermal power generation.
01
August
2023
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.
31
July
2023
For the third quarter of 2023, business confidence in Georgia decreased (by 10.7 index points) and reached 15.7. The highest business confidence is observed in the financial (26.4) sector. The negative change in BCI for Q3 2023 was driven by worsened past performance as well as less optimistic expectations.
