IMF praises Georgia’s tax policy, announces new 3-year program

The International Monetary Fund (IMF) is pleased by Georgia’s progress in tax policy and revenue administration and has announced a new, three-year, large-scale technical assistance program for the country.

The authorities from the IMF visited Georgia’s capital of Tbilisi yesterday where they met the country’s Finance Minister Dimitry Kumsishvili and discussed the details of the future program.

The IMF positively assessed its cooperation with the Revenue Service of Georgia and the country’s authorities.

We have worked [with the Government of Georgia] in the area of tax policy, in the area of revenue administration, public financial management and expenditure policy. We have been extremely pleased by the very constructive engagement of the Georgian authorities who always listen quiet carefully to our advice ...and they have implemented the program in quite an effective way”, said Director of the Fiscal Affairs Department of the IMF Vitor Gaspar after the meeting with Georgia’s Finance Minister Dimitry Kumsishvili yesterday.

Within the next three years the IMF will assist Georgia’s Revenue Service in the following directions:

• To improve revenue administration;
• To help effectively implement the regulations of the Association Agreement (AA) signed between Georgia and the European Union (EU);
• To help the Revenue Service establish a status of stable and reliable business partner.

Georgian Finance Minister also met an Alternate Executive Director at IMF Richard Doornbosch yesterday, who visited Georgia for the first time.

Georgia’s economic indicators and the ongoing fiscal and structural reforms was one of the major topics of discussions.

The IMF has been providing multiple technical services in various fields to the Revenue Service since 2012 within the framework of its fiscal mission. These services includes declaration, debt management and recovery, risk management, dispute resolution, legislative changes, audit reform, taxpayers service, voluntary compliance and tax administration.