Georgia Tax & Financial Reporting Calendar 2025

Whether you're a company owner, entrepreneur, or freelancer operating in Georgia, staying on top of your tax and financial reporting obligations is essential. This guide brings you a clear overview of the 2025 tax calendar, including key deadlines for profit tax, VAT, property declarations, and SARAS financial reports. Understand which obligations apply to legal entities and individuals, and get a complete overview of Georgia’s four taxpayer categories and reporting standards. Bookmark this page to stay compliant and avoid penalties.

 

For Legal Entities (Companies)

Declaration Type	Period Covered	Filing Deadline
Annual Profit Tax Return	January 1 – December 31, 2024	April 1, 2025
Monthly Profit Tax Return	Previous Month	15th of each month
Monthly VAT Return	Previous Month	15th of each month
Monthly Import Tax Return	Previous Month	15th of each month
Annual Property Tax Return	January 1 – December 31, 2024	November 1, 2025
SARAS Financial Reporting	Fiscal Year 2024	October 1, 2025

 

For Natural Persons (Individuals)

Declaration Type	Period Covered	Filing Deadline
Annual Income Tax Return	January 1 – December 31, 2024	April 1, 2025
Annual Property Tax Return	January 1 – December 31, 2024	November 1, 2025

 

Overview of Georgia’s Profit Tax System

Georgia employs a Distributed Profit Tax (DPT) model, which means:

• Undistributed profits are not taxed.
• Tax is levied only when profits are distributed, such as through dividends or certain non-business expenses.
• The standard profit tax rate is 15%.
• Specific sectors, including commercial banks, credit unions, microfinance organizations, and loan issuers, are subject to a 20% profit tax rate.

 

The Four Main Taxpayer Categories in Georgia

1. Legal Entities

• Includes: LLCs, JSCs, partnerships, and other corporate forms.
• Tax Obligations:
  • Profit Tax: 15% on distributed profits.
  • Value Added Tax (VAT): 18% on taxable transactions.
  • Property Tax: Up to 1% on the average annual residual value of fixed assets.
  • Import Tax: Varies depending on the goods imported.
• Filing Requirements:
  • Annual Profit Tax Return: Due by April 1st.
  • Monthly Profit Tax Declarations: Due by the 15th of each month for the previous month's activities.
  • Monthly VAT Declarations: Due by the 15th of each month.
  • Annual Property Tax Return: Due by November 1st.

2. Natural Persons (Individuals)

• Tax Obligations:
  • Personal Income Tax: Flat rate of 20% on Georgian-source income.
  • Property Tax: Applicable if annual income exceeds 40,000 GEL.
• Filing Requirements:
  • Annual Income Tax Return: Due by April 1st.
  • Annual Property Tax Return: Due by November 1st.

3. Micro Business

• Eligibility:
  • Annual turnover not exceeding 30,000 GEL.
  • No hired employees.
• Tax Benefits:
  • Exempt from income tax on business income.
• Registration:
  • Must register with the Revenue Service to obtain micro business status.

4. Small Business

• Eligibility:
  • Annual turnover up to 500,000 GEL.
• Tax Rate:
  • 1% on turnover.
  • If turnover exceeds 500,000 GEL, the rate increases to 3%.
• Registration:
  • Must register with the Revenue Service to obtain small business status.

 

SARAS Reporting Requirements

The Service for Accounting, Reporting and Auditing Supervision (SARAS) oversees financial reporting and auditing standards in Georgia. Entities are categorized into four groups based on size, each with specific reporting obligations:

 

1. Public Interest Entities (PIEs)

• Includes: Listed companies, banks, insurance companies, microfinance institutions, pension funds, investment funds, and other entities defined by law.
• Reporting Standards: Must prepare financial statements in accordance with IFRS.
• Additional Reports:
  • Management Report: Overview of the entity’s activities.
  • Corporate Governance Statement: For entities listed on the stock exchange.
  • Non-Financial Statement: If the average number of employees exceeds 500.
  • Report on Payments to Government: For entities in extractive industries or logging of primary forests.
• Audit Requirements: Mandatory audit of financial statements and management reports.
• Submission Deadline: No later than October 1st of the following year.

 

2. First Category Enterprises

• Criteria: Meet at least two of the following:
  • Total assets > 50 million GEL.
  • Revenue > 100 million GEL.
  • Average number of employees > 250.
• Reporting Standards: Must prepare financial statements in accordance with IFRS.
• Additional Reports:
  • Management Report: Overview of the entity’s activities.
  • Report on Payments to Government: For entities in extractive industries or logging of primary forests.
• Audit Requirements: Mandatory audit of financial statements and management reports.
• Submission Deadline: No later than October 1st of the following year.

 

3. Second Category Enterprises

• Criteria: Do not qualify as first or third category and meet at least two of the following:
  • Total assets ≤ 50 million GEL.
  • Revenue ≤ 100 million GEL.
  • Average number of employees ≤ 250.
• Reporting Standards: May apply IFRS for SMEs or full IFRS.
• Additional Reports:
  • Management Report: Overview of the entity’s activities.
• Audit Requirements: Mandatory audit of financial statements and management reports.
• Submission Deadline: No later than October 1st of the following year.

 

4. Third Category Enterprises

• Criteria: Meet at least two of the following:
  • Total assets ≤ 10 million GEL.
  • Revenue ≤ 20 million GEL.
  • Average number of employees ≤ 50.
• Reporting Standards: May apply IFRS for SMEs or full IFRS.
• Additional Reports: Not required.
• Audit Requirements: Not mandatory unless specified by legislation.
• Submission Deadline: No later than October 1st of the following year.

 

5. Fourth Category Enterprises

• Criteria: Meet at least two of the following:
  • Total assets ≤ 1 million GEL.
  • Revenue ≤ 2 million GEL.
  • Average number of employees ≤ 10.
• Reporting Standards: Must prepare financial statements in accordance with the Financial Reporting Standard for Category IV Entities as approved by SARAS. Entities may choose to apply higher-level standards such as IFRS for SMEs or full IFRS.
• Additional Reports: Not required.
• Audit Requirements: Not mandatory unless specified by legislation.
• Submission Deadline: No later than October 1st of the following year.

 

Summary Table of SARAS Reporting Obligations

Category	Criteria (2 of 3)	Reporting Standards	Additional Reports	Audit Requirements	Submission Deadline
1st Category	- Total assets > 50M GEL - Revenue > 100M GEL - Employees > 250	IFRS	- Management Report - Report on Payments to Government (if applicable)	Mandatory for financial statements and management reports	October 1st of following year
2nd Category	- Not 1st or 3rd category - Total assets ≤ 50M GEL - Revenue ≤ 100M GEL - Employees ≤ 250	IFRS or IFRS for SMEs	- Management Report	Mandatory for financial statements and management reports	October 1st of following year
3rd Category	- Total assets ≤ 10M GEL - Revenue ≤ 20M GEL - Employees ≤ 50	IFRS or IFRS for SMEs	None required	Not mandatory, unless required by law	October 1st of following year
4th Category	- Total assets ≤ 1M GEL - Revenue ≤ 2M GEL - Employees ≤ 10	SARAS Standard for Category IV or IFRS for SMEs / full IFRS	None required	Not mandatory, unless required by law	October 1st of following year

 

Penalties for Non-Compliance

Failure to submit financial statements by the stipulated deadline may result in fines:

• First Category: GEL 10,000
• Second Category: GEL 5,000
• Third Category: GEL 1,000
• Fourth Category: GEL 500

If the violation is not rectified within one month of receiving a warning, the fines may be doubled.

Useful Links

• SARAS Reporting Guidelines
• SARAS Digital Reporting Platform