Georgian PM announces ‘unprecedented’ tax breaks for startups

Georgian Prime Minister Irakli Kobakhidze on Monday announced that startups specializing in advanced technology and innovation would be eligible for a decade-long tax relief programme. As part of this initiative, businesses will benefit from zero income tax for the first three years.

“Innovation is a key pillar of our economic strategy, and we are introducing a major initiative to support it,” Kobakhidze claimed.

“Georgian startups creating high-tech and innovative products will enjoy unprecedented tax breaks for ten years, including a zero percent income tax rate for the first three. This measure will help foster the creation of new startups, attract international companies, boost investment, and generate jobs”, he added.

Kobakhidze added that the initiative also included additional support mechanisms for small and medium-sized enterprises involved in developing innovative products and services. He described the plan as a “transformative step towards strengthening Georgia’s position as a hub for technological advancement.”