The Association has been operating since February 2022. A non-profit organization that unites foreign investors and representatives of Georgian IT companies with the status of Virtual Zone.
The Association’s main goal is to resolve the issue related to unfair retrospective taxation by the tax authorities of companies with the status of the Virtual Zone by making the law clear and accurate so that it cannot be used against its members.
What the Association was able to accomplish in one year:
Thanks to the Association this issue was raised in state structures, in the media, and in European associations.
The Association achieved the cancellation of the first methodology and hence, started the recalculation of the taxes and fines of the members of the Association and accrued amounts of some companies were removed or reduced.
The Association is working diligently to achieve a clear definition of the criteria for IT companies with the status of Virtual Zone for tax purposes.
With the hard work of the Association, we managed to be in the Parliament with our legislative initiative.
The Association has received the support of the Business Ombudsman in connection with this process.
The Association attracted the interest of the European Business Association and other European representatives on this issue.
It was the Association that made it possible to bring the problems of the Virtual Zone companies before the state and non-governmental authorities.
Next steps and plans:
– Our goals have not changed
-Unit more companies
– Cancellation of taxes, penalties and fees for the past period
– Achieving legislative changes in favor of business (your participation is important)
– To set up clear IT criteria for the companies with VZP status
– Close cooperation with the Government agencies and other partners
– Support for the development of the industry in the country
A presentation with detailed information about the Association’s achievements of 2022 can be found in this link.
Follow our news and stay in touch with us. We are confident that next year we will be able to achieve all our common goals together.
