IT enterprises in Georgia to be exempted from taxes in 2011

PanARMENIAN.Net - On December 15, Georgian parliament adopted a law on IT zones, envisaging exemption from taxes for IT companies, including export taxes, income taxes and VAT.

The law will become effective on January 1, 2011, with companies wishing to be included into the tax-exempt category expected to submit applications to be considered by the government of Georgia.

Meanwhile, the necessity of introduction of privileges for IT sector in Armenia, announced a priority sphere by the country’s government, has been repeatedly emphasized. As UITE director general Karen Vardanyan noted earlier, lack of privileges for IT companies in Armenia will lead to outflow of experts to the countries offering better conditions.