Georgia Gazettes Order Amending VAT Taxation of Compensation for Goods, Services

The Georgian Official Gazette Nov. 28 published Order No. 446, amending the conditions for VAT taxation on the payment of compensation before the delivery of goods and services. The order includes measures amending: 1) the conditions for VAT taxation on compensation paid before the delivery of goods and services, encompassing the definition of the goods and services, determination of quantity and volume, establishment of cost, and determination of the VAT-taxable or exempt status.; and 2) extending the rule to exchange or barter operations, both in cash and in the part of payment of compensation in the form of goods or ...