Import Taxes in Georgia
In Georgia, import taxes include Value Added Tax (VAT) and customs duties. Below is a detailed explanation of these taxes, how they are calculated, and the payment process:
1. Value Added Tax (VAT)
VAT in Georgia for imported goods is generally 18%. This tax is applied to the value of the imported goods.
2. Customs Duties
Customs duties are calculated based on the type of goods and Georgia’s customs tariff rates. The rates can vary depending on the classification of the goods, with some having tariffs of 5%, 12%, or 18%. These rates depend on the type of goods being imported.
Customs Duty Calculation:
- Customs Tariff Code: Each imported good is assigned a customs tariff code, determining the applicable duty rate.
- Value of Imported Goods: The value of the goods based on the invoice.
- Customs Duty Rate: Determined by the tariff code and type of goods.
Steps for Importing Goods into Georgia
1. Obtain Import Permits (if required)
Depending on the type of goods, you may need to obtain import permits from the relevant authorities in Georgia or the country of origin.
2. Prepare Required Documents
Documents necessary for importing goods include:
- Commercial Invoice
- Bill of Lading (or Airway Bill)
- Packing List
- Certificate of Origin
- Import Permits (if required)
3. Customs Declaration
You must prepare and submit a customs declaration to Georgian Customs. This declaration includes information about the goods, their value, and the customs tariff code.
4. Pay Taxes and Duties
Once the customs declaration is submitted, the VAT and customs duties are calculated and must be paid.
5. Clearance of Goods
After the taxes and duties are paid, your imported goods will be cleared, and you can collect them from customs.
Consulting Experts and Specialized Companies
To ensure compliance with procedures, accurate payment of taxes and duties, and to avoid potential problems or extra costs, you can consult specialized import and customs companies. MITC in Georgia can assist you in this area. With over two decades of experience in accounting, marketing, import/export, and tax consulting, MITC offers the services you need.
Conclusion
Importing goods into Georgia requires familiarity with the relevant laws and regulations concerning taxes and customs duties. By following the correct procedures and consulting experts, you can avoid potential issues and complete your import process smoothly.
