If you invoice in USD, EUR or anything other than GEL, every payment has to be converted before it can be declared. The rule is narrow and precise: use the National Bank of Georgia rate for the date the money was received. Not the invoice date, not a monthly average, not your bank's conversion rate.
Why the date matters so much
NBG publishes official rates daily. Because you convert each receipt at its own date's rate, two identical $5,000 invoices paid three weeks apart produce different GEL amounts — and different tax.
Over a year with dozens of payments and a moving lari, doing this by hand is where errors accumulate. A 2% drift in average rate on ₾200,000 of turnover is ₾4,000 of misstated income.
Which date is "received"
The date the funds landed in your account — the value date on your bank statement. Not:
- the date you issued the invoice,
- the date the client says they sent it,
- the date it left a payment processor's balance for your bank.
For payments routed through Wise, Payoneer, Deel or similar, the relevant date is when the money reached the account you are declaring from. If you hold a foreign-currency balance in an intermediary and transfer to Georgia later, be consistent about which event you treat as receipt, and be able to explain the choice. Inconsistency between months is what draws attention.
The rate to use
Official NBG rates come from nbg.gov.ge. This is the methodology accepted by Georgian tax authorities for converting foreign income, and it is the source the calculator queries directly per entry.
Your bank's rate is not the right figure. If a $1,000 payment converts to ₾2,690 inside your bank but the NBG rate that day implies ₾2,710, you declare on the NBG figure. The spread your bank took is a business cost, not a reduction in turnover.
Weekends and holidays
NBG does not publish a new rate every calendar day. For a payment received on a Saturday, the applicable rate is the most recently published one — the rate in force on that date. The calculator resolves this automatically; if you are working by hand, take the last published rate on or before the receipt date rather than the next one after it.
Quantity-based rates
NBG quotes some currencies per unit and others per 10, 100 or 1,000 units — Japanese yen and Uzbek som, for instance. Reading a per-100 quote as a per-1 rate produces an error of two orders of magnitude. This is worth double-checking whenever you handle an unfamiliar currency by hand.
A worked example
Three payments in one month:
| Date | Amount | NBG rate that day | GEL |
|---|---|---|---|
| 3 March | $2,000 | 2.7100 | 5,420.00 |
| 14 March | €1,500 | 2.9450 | 4,417.50 |
| 28 March | $2,000 | 2.6850 | 5,370.00 |
Monthly turnover is ₾15,207.50 and the tax is ₾152.08. Note that the two identical dollar amounts contributed ₾50 of difference — that is the mechanism, and it is why per-entry conversion is not optional.
Rates above are illustrative. Always use the actual published rate for the date.
Doing it without arithmetic
The calculator takes each payment as a date, an amount and a currency, fetches the NBG rate for that exact date, and produces the monthly and year-to-date GEL totals you need for fields 15 and 17 of the declaration. It supports 40+ currencies, and you can import a bank statement instead of typing entries.
Keeping records
Keep the bank statement showing each receipt and its date. If a declared figure is ever questioned, the statement plus the NBG published rate for that date reconstructs your calculation exactly. Exporting the calculator's detailed report to XLSX or CSV each month gives you that reconciliation in one file.