Sole Trader in Georgia: USDT as a Payment Method
A small business owner in Georgia (sole trader or LLC under the "small business" regime) can legally accept USDT and convert it to lari for current expenses. This is simpler than an international wire from a foreign client.
Georgia Sole Trader Tax Regime in Brief
In Georgia the "Small Business Status" (SBS) is popular: 1% turnover tax for annual income up to 500,000 lari (~185,000 USD). Exceeding the limit means the standard 20% profit tax. Registration via the RS.ge portal takes one business day.
- SBS: 1% of turnover, cap 500,000 GEL/year
- Micro-business: 0% for turnover up to 30,000 GEL, individuals only
- Standard regime: 15% profit tax + 20% VAT above 100,000 GEL turnover
How to Record USDT as Income
Georgian tax law treats cryptocurrency as property. Upon receiving USDT, you record the market rate on the date of receipt and report the lari-equivalent as income. Any gain on subsequent sale is a separate transaction.
- Record the date and USDT/GEL rate at the time of payment receipt
- Enter the lari equivalent in your income ledger
- When converting USDT to GEL, record the actual transaction rate
- Show the difference between acquisition price and sale price on a separate line
USDT → GEL → Business Account
The optimal flow: convert USDT to GEL via a verified exchanger (WExchange or a Tbilisi cash office), then deposit lari to your business account at TBC Business or BOG Business. Banks work with sole traders registered under a Georgian tax ID (PIN).
- TBC Business: free maintenance for up to 12 months for new clients
- BOG Business: integration with accounting services (Oris, BookKeeper.ge)
- Liberty Bank: suitable for small volumes, no minimum balance requirement
Bookkeeping and Reporting for Crypto Income
SBS requires only a simple income ledger — no double-entry accounting. A number of Georgian accountants specialize in crypto sole traders; monthly support costs 150–300 GEL. Declarations are filed quarterly via the RS.ge portal.
- Keep transaction screenshots from the exchange or office — at least 3 years
- Wallet statements (Etherscan, Tronscan) are accepted as primary documents
- During an audit, RS requests proof of the source of funds
Typical Amounts and Frequency
Most small sole traders convert USDT every 1–2 weeks in batches of 500–3,000 USDT. Larger amounts (from 10,000 USDT) are better split into several transactions or handled via the WExchange OTC channel for a fixed rate.
Consult a local auditor for up-to-date Georgian tax and accounting rules on crypto income. This information is for general guidance only.
Ready to exchange? Calculate your amount right now.