Training - new (Estonian) model of profit tax

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Organized by the Association of Georgian Employers and the "Financial Office", taking into account the request of the companies, a cycle of trainings on the topic "New (Estonian) model of profit tax" was started. The purpose of the trainings is to familiarize the business sector with important changes in the tax legislation regarding the so-called Estonian model of profit tax, which will come into effect on January 1, 2017. On November 17, the first training was held, which was led by Mikheil Chelidze, the managing partner of the financial office of the auditing and accounting company. The following topics were discussed at the mentioned training: 1. Content difference between the existing and new profit tax models; 2. Who is the payer of profit tax according to the new model; 3. Objects of taxation according to the new model: - distributed profit; - incurred expenses or other payments that are not related to economic activity; - free delivery of goods/services and/or transfer of funds; - representative expenses incurred in an amount greater than the threshold amount established by the Code. 4. Crediting of income tax already paid or payable in the account of newly payable income tax. At the end of the training, the participants were awarded GEA certificates. The Association of Employers of Georgia, together with the "Financial Office", plans to systematically offer companies trainings on the mentioned topic.