Is there a tax on income from passive investments (interest on deposits, dividends, etc)?
There are gaps in Georgian legislation about the incomes form passive investments considered to dividends, when the non-entrepreneurial legal entity establishes its own trade company and receives a % from the annual profit there is no regulations on this. However there is a legal regulation if a trade company receives dividends from another trade company, this income is exempt from the profit taxes. Non-entrepreneurial legal entity’s (if the NGO has a deposit bank account) percentage receiving from bank is exempt from tax. • Are there taxes on the property owned by NGOs? Non-entrepreneurial legal entities are exempt from paying the property tax, except for the land and property used for economic activities. In other words, non-entrepreneurial legal entities pay a property tax only on: • Land in its ownership, as well as the land in state ownership being in use or factual possession as prescribed under the law. • Property (fixed assets registered on its balance, uninstalled equipment, u
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