Property-Tax Planning: Lawful Instruments
Planning the property tax means that the payer makes medium-term decisions so that the tax burden decreases within the bounds of the law. For this one must first know who is taxed on what: the payer of the property tax is a resident enterprise and organization — on assets recorded on the balance, uninstalled equipment and unfinished construction, as well as property leased out; a non-resident enterprise — on the same property located in Georgia; a natural person — on immovable property held in ownership, yachts, helicopters, aircraft, and light vehicles determined by code 8703 of the national commodity nomenclature of foreign-economic activity.
The first checkpoint of planning is precisely this circle: the status of the person holding the property and the method of recording the property determine the base on which the object is taxed. Property registered in the name of a deceased person but held or used by another is likewise taxed — except use on the basis of lease, tenancy or usufruct. These details must be taken into account in planning decisions in advance.