The Small Business Regime in the System of Special Taxation
The Tax Code of Georgia builds a system of special taxation regimes that extends to physical persons holding micro business status, entrepreneur physical persons holding small business status, and persons holding the status of a fixed taxpayer. For an individual entrepreneur the central link of this system is precisely the small business status — with simplified rates and simplified accounting.
Small business status may be granted to an entrepreneur physical person. At the same time, with the consent of the Financial-Budget Committee of the Parliament of Georgia, the Government may prohibit the pursuit of particular activities within which this status cannot be granted to an entrepreneur, and may also define types of income that are not taxed under the special regime and are not counted in total income.