Income tax on rent, worked example, in Georgia
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| Non-resident couple's rental income1 | ||||
| Monthly Rental Income2 | 1,500 | 6,000 | 12,000 | |
| Annual Rental Income | 18,000 | 72,000 | 144,000 | |
| = Taxable Income | 18,000 | 72,000 | 144,000 | |
| Income Tax4 | ||||
| Flat rate | 5% | 900 | 3,600 | 7,200 |
| Annual Income Tax Due | 900 | 3,600 | 7,200 | |
| Tax Due as % of Gross Income | 5.00% | 5.00% | 5.00% | |
Notes
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 EUR = 2.80 GEL
3 Nonresidents leasing out residential property may be taxed at a flat rate of 5% on the gross rent.
