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1 Gia Jandieri, Tax Reforms in Georgia 2004-2012 1 (2019)

handle is hein.taxfoundation/txrefga0001 and id is 1 raw text is: 3Tax Reforms in Georgia 2004-2012 F I S CAL Gia Jandieri FACT Vice-President and Founder, New Economic School No. 665 Tbilisi, Georgia July 2019 Key Findings The country of Georgia has successfully implemented dramatic tax reforms over the last two decades. The system has moved from one with lots of complexity to one that promotes investment and economic growth. The main features of the current system include a 20 percent value-added tax (VAT), a flat personal income tax at 18 percent, and a corporate profits tax of 15 percent that exempts reinvested earnings. Georgia also has a law in place that limits government debt and spending levels. Dedication This paper is dedicated to the successful story of Georgian tax reforms, to Kakha Bendukidze and Mart Laar and others who contributed all their knowledge and experience to its success. The Tax Foundation is the nation's leading independent tax policy research organization. Since 1937, our research, analysis, and experts have informed smarter tax policy at the federal, state, and local levels. We are a 501(c)(3) nonprofit organization. ©2019 Tax Foundation Distributed under Creative Commons CC BY NC 4.0 Editor, Rachel Shuster Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 taxfoundation.org