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Kutaisi Free Industrial Zone

 

The Kutaisi Free Industrial Zone (FIZ) is a territory in the city of Kutaisi with a special tax-free regime. It covers 27 hectares of land adjacent to the former Kutaisi truck manufacturing plant. The Kutaisi FIZ was created in 2009 by Georgian International Holdings, who serves as administrator of the FIZ. LLC Fresh-Georgia is the first and largest tenant within the zone with several factories that produce home appliances. 

 

The Kutaisi Free Industrial Zone is still under development. The area is currently being rehabilitated and the city’s industrial infrastructure is being completely renovated. When fully operational, the Kutaisi FIZ will be a large, multi-profile industrial center with several complete manufacturing operations.

 

Incentives for firms operating within Georgia’s free industrial zones (FIZ)

 

Profit gained by an international enterprise from an activity carried out in FIZ is exempt from profit tax.

FIZ incorporated entities are exempt from property tax.

No VAT applies to goods produced in other countries and imported into the FIZ.

No VAT applies to the transactions carried out among FIZ incorporated entities.

Supply of goods/services among enterprises of FIZ is VAT exempt.

No Customs duty applies to goods produced in other countries and imported into the FIZ.

Only VAT tax shall be applied to goods produced in the FIZ under the Free-Disposal customs regime, regardless of the quantity of the goods.

The export of goods produced in the FIZ within Georgian territory is free from customs duty.

No foreign exchange controls, trade barriers of quotas.

No restrictions on capital repatriation.

Employees of the entities incorporated in the FIZ pay revenue taxes via declaration as FIZ incorporated enterprise is not considered as a tax agent in relation to salary paid by it and does not have to withhold tax at the source of payment.

 

Attachment: Law of Georgia on Free Industrial Zones

 

 

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