Starting from 1 January 2019, companies and organizations that are engaged in business deals with administrative bodies of Georgia are obliged to conduct such affairs via electronic documents signed by qualified electronic signature or qualified electronic stamp through electronic means of communication. As of now, this rule applies to public procurements. In general, the qualified […]
Blockchain has become an essential modern technology not only for virtual currencies, but it has also demonstrated high potential of revolutionizing daily operations of private business as well as the state entities. The technology represents a cryptographically-secured transaction record created without the intervention of a central authority. Due to its technological peculiarities, blockchain is being
On the Georgian Labor Safety Law Read More »
Blockchain has become an essential modern technology not only for virtual currencies, but it has also demonstrated high potential of revolutionizing daily operations of private business as well as the state entities. The technology represents a cryptographically-secured transaction record created without the intervention of a central authority. Due to its technological peculiarities, blockchain is being
Potential of Blockchain Technology in Georgia Read More »
Georgian Law Developments 1. GEORGIA AND ENERGY CHARTER TREATY The 1994 Energy Charter Treaty (“ECT”) ratified by Georgia on 22 February 1995 entered into force on 16 April 1998 (the “Effective Date”). Georgia also became party to the 1994 Protocol on Energy Efficiency and Related Environmental Aspects and the 1998 Amendment to the Trade related
Energy Charter Treaty. Trade Part ll Read More »
GEORGIA AND ENERGY CHARTER TREATY The 1994 Energy Charter Treaty (“ECT”) was ratified by Georgia on 22 February 1995 and entered into force on 16 April 1998 (the “Effective Date”). With regard to related agreements, Georgia also became party to the 1994 Protocol on Energy Efficiency and Related Environmental Aspects and the 1998 Amendment to
Energy Charter Treaty and Georgia Read More »
Value added tax (VAT) is one of the most essential taxes in Georgia. In 2019, VAT corresponded to 44% of the tax revenues of the Georgian budget. It may be concluded that VAT is one of the strongest instruments of the Georgian fiscal policy and has a significant potential of impacting an economic activity. This
Reform of the Georgian Tax Code – New VAT Rules Read More »
New Balance of Interests between Lawful Owners and Good Faith Purchasers INTRODUCTIONOn 17 October 2017, the Constitutional Court of Georgia rendered an important judgement regarding good faith purchasers of immovable properties in Georgia (the “Judgement”). Before the Judgement, the Civil Code of Georgia (the “Civil Code”) used to be interpreted in an inconsistent way and
Good Faith Purchasers Read More »
The Tax Code of Georgia (the Tax Code) was amended in July 2019 to provide specific taxation benefits for international companies. Nevertheless, until today Georgian legislation did not prescribe the criteria for qualifying as an international company and enjoying benefits that the Tax Code exceptionally grants to them. On 8 October 2020, the Government of Georgia
New Tax Benefits for IT, Transportation and Logistics Companies in Georgia Read More »