Import tax deadline reduced for ‘golden list' companies
Business society asks for additional consultation

Amendments to the order of Georgian Finance Minister issued on May 31, 2019 in the instruction on the movement and registration of the goods brought into the customs territory of Georgia, caused dissatisfaction among the Georgian business society.

Taxpayers Union Georgia (TPU), Business Association of Georgia (BAG) and business society call on the Minister of Finance for additional consultations.

Following the amendments companies included in the so called ‘golden list’ are now given 5-day deadline for import tax instead of 30 days.

Revenue Service of Georgia explains that the members of “golden list” are the subject to simplified customs procedures. One of the preferential conditions offered to these companies was to pay import tax in 30 days but the new amendments reduced the deadline to 5 days.

• Click here to learn more about who the member of ‘golden list’ is and who can obtain this status.

TPU said in its statements that the amendment will have negative affect on the financial conditions of the companies already facing problems with accessing to finances. On the other hand BAG stated that “this decision … is a step back” and will negatively impact on everyday activities of the companies.

Deputy Finance Minister Tsotne Khavelashvili responded to the business society that the amendments aim to create equal conditions to all companies in Georgia, will improve competitive environment and will meet the obligations taken under Georgia-EU Association Agreement.

Khavelashvili said that 217 large companies were using preferential conditions before the amendments and now they will share the same conditions as other small and medium-sized businesses have.