Calculate/Fill/Submit Small Business Tax Declaration & More

Calculate/Fill/Submit Small Business Tax Declaration & More

What you'll learn

Small Business Status Tax Tips/Advice: Must-Know Georgian Rules!

Filling out the Exel file Income Tax Calculator

A practical guide - Filling/Submit 2 monthly income tax declarations

Find & Review Debt, Pay Tax.

BONUS: Business registration, tax system & exemptions in Georgia" (Recorded Seminar)

Requirements

ACTIVE Revenue Service web portal.

ACTIVE Small Business Status (SBS) for their business operations.

Description

1. Small Business Status Tax Tips/Advice: Must-Know Georgian Rules!In this module, WE WILL COVER some helpful topics:Small Business Status Tax Tips/Advice. (Additional, taxes which may occur, above SBS income tax)On the attached files you can download a PDF file where you can read:Briefly about the Taxation of a Small business status (SBS) in Georgia- Set up Small business.- Set up Georgian Bank.- Steps to take for starting registering SBS & BANK (Briefly)- Questions that arise when dealing with the Revenue Service to determine whether you're classified as an employee or a service provider (Freelancer). Understanding your classification is crucial as it directly impacts your tax obligations and legal responsibilities. NOTE: The small business status is pertinent primarily for individual entrepreneurs (Freelancers) and does not pertain to individuals under regular employment contracts:NOTE: If over 85% of your income comes from one company, it could be deemed as employment, and the way income is divided between at least two companies—whether it's 85/15, 70/30, 60/40, or 50/50—can be deemed as a service agreement (this is main criteria, however, it’s advisable to draft service contract carefully) NOTE: Please note that these ratios are based solely on the RS portal and do not have a legal foundation. However, we anticipate that the Revenue Service may utilize these questions when inspecting small business companies, irrespective of their legal background. UPDATE: In the video, we are talking about a ratio of 80/20%, Please use at least an 85/15% ratio! 2. Filling out the Exel file Income Tax CalculatorIn this module, WE WILL COVER some helpful topics:Video where we together are filling out the Exel file "Income Tax Calculator for Small Business Status"  (with an attached Excel file: UPDATED)Navigating the Georgian National Bank website.Converting foreign currency income to Georgian GEL (Lari) according to the Georgian National Bank Currency exchange rate!3. A practical guide - Filling/Submit 2 monthly income tax declarationsIn this webinar, WE WILL COVER some helpful topics:SBS Income Tax Declaration: Tax declaration procedures, from filling to submission!Getting Around the Georgian Revenue Service Web Portal: A guide tailored specifically for navigating the portal related to SBS Income Tax Declaration.Please keep in mind the following IMPORTANT NOTES!The interface of the Georgian RS portal is currently in the Georgian language. However, in our webinar, we'll provide a step-by-step explanation of each important element, including the purpose of different columns. Fortunately, we're also working on translating the interface, so hopefully, in the near future, we'll have a webinar with an English interface.4. Find & Review Debt, Pay Tax.In this webinar, WE WILL COVER some helpful topics:Managing Tax Debts Online: Learn how to conveniently handle your tax debt payments using the revenue service web portal.When you are on the last stage of payment tax COPY THIS TEXT in the BANK PAYMENT DESCRIPTION "საშემოსავლო გადასახადო" - this means "INCOME PAYMENT" (WACH THE VIDEO) Please keep in mind the following IMPORTANT NOTES!When it comes to paying taxes, please note that the RS budget account only accepts payments from Georgian-based bank accounts. It's essential to have a Georgian bank account if you're liable to pay taxes. If you don't have a Georgian bank account, you're not able to pay taxes directly yourself.SOLUTION: If you don't have a Georgian bank account, you can ask someone who does to pay the tax on your behalf. Many Georgian bank applications offer options where a third party can be responsible for paying taxes instead of you. This can be a convenient solution if you're unable to make payments directly.5.  Business registration, tax system & exemptions in Georgia" (Recorded Seminar)In this module, WE WILL COVER some helpful topics:LLC registration steps & documents (Remotley and in person) Georgian Main Taxes.Tax exemptions (For LLC & IE). as an attached file presentation of the seminar (PDF) as an attached file simple of a shareholders agreement for registering LLC in Georgia (Georgian and English versions) 

Overview

Section 1: Brief introductions - What you will get!

Lecture 1 Brief Introduction - What you will get!

Section 2: Small Business Status Tax Tips/Advice: Must-Know Georgian Rules!

Lecture 2 Small Business Status Tax Tips/Advice: Must-Know Georgian Rules!

Section 3: Filling out the Exel file "Income Tax Calculator"

Lecture 3 Filling out the Exel file "Income Tax Calculator"

Section 4: A practical guide - Filling/Submit 2 monthly income tax declarations

Lecture 4 A practical guide - Filling/Submit 2 monthly income tax declarations

Section 5: Find & Review Debt, Pay Tax.

Lecture 5 Find & Review Debt, Pay Tax.

Section 6: "Business registration, tax system & exemptions in Georgia" (Recorded Seminar)

Lecture 6 "Business registration, tax system & exemptions in Georgia" (Recorded Seminar)

This course is specifically designed for taxpayers in Georgia who hold Small Business Status (SBS) and have an active account on the Revenue Service portal.,It caters to individuals who prefer to take charge of their SBS tax declaration process rather than outsourcing it to a third party and paying monthly fees for such services.,The course aims to enable them to confidently navigate the Revenue Service portal and submit their declarations independently,Participants will gain the capability to manage their tax obligations efficiently and effectively, eliminating the need for external assistance and associated fees.,SBS Taxpayers in Georgia who is additionaly interested in taxes which may occur, above SBS income tax,People who is interested in Generally issues about Business registration, tax system & exemptions in Georgia