“Let’s do it” - AmCham Georgia president on Tax Code reform
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Sarah Williamson, president of the American Chamber of Commerce (AmCham) in Georgia is praising the Georgian Government’s effort to simplify the country’s Tax Code and is encouraging the Prime Minister to put forward "much needed” reform proposals.
Williamson posted on her Facebook page last evening she was "extremely excited” about the Georgian economic team’s proposed amendments to simplify the Tax Code, which was businesses needed "for many years”.
I'm extremely excited to hear the Prime Minister's proposals today [February 11] regarding Tax Administration and Legislative changes!” she wrote.
Yesterday Georgia’s Finance Minister Nodar Khaduri introduced efforts taken to amend Georgia’s Tax Code at the Governmental meeting. The aim of this was to improve the investment climate, attract more investors and additional capital to the country.
The AmCham president believed Georgia’s business society would benefit immensely from a more simplified Tax Code.
Along with the "Estonian Model" of giving a tax break/incentive for reinvested profits, he [Prime Minister Giorgi Kvirikashvili] has also announced four major implementation changes that businesses have been needing for many years.”
She said these changes were:
- "No more freezing of assets without a court order;
- Financial Police will no longer conduct audits, that's the Revenue Service's job;
- VAT is no longer due to be paid on the border for corporations;
- Tax code changes to make it easier to close a business due to insolvency.”
The AmCham Georgia president congratulated Georgia’s Prime Minister Giorgi Kvirikashvili for proposing to reform the Tax Code.
Congratulations to PM Kvirikashvili and his team for putting forward these ambitious, and much needed, reform proposals. Let's do it!”
Next week Georgia’s economic team are expected to send the draft law to Parliament for approval. If approved the draft law will come into force in July 2016.
Georgia’s economic team is working on modifying the country’s income tax rules, with the main goal to improve the investment climate, attract more investors and additional capital to the country.
Georgia is making changes to the country's tax law in a bid to improve the investment climate, attract more investors and additional capital to the country.
The Government of Georgia is taking actions to decriminalise economic crime and liberalise the Tax Code in order to further develop Georgian economy.
The Georgian Government is planning to simplify the Tax Code and create better conditions to the business society.Today, Georgia’s Prime Minister Giorgi Kvirikashvili announced the Government had started active works to liberalise the taxes following the Estonian model.
"Our goal is to develop and establish Georgia as a European country with the European laws and regulations, less bureaucracy, promote our advantageous geographical location, low prices of energy and, of course, free trade agreements with all neighbouring countries and with the European Union.”
A draft law on modifying Georgia’s income tax rules will come into force in January 2017 instead of July 2016, taking into account requests from local businesses to postpone the enactment of new Tax Code law.
“We will show the world Georgia is an attractive country”
George Welton, Executive Director of the American Chamber of Commerce (AmCham) in Georgia is praising the Georgian Government’s effort to simplify the country’s Tax Code, assuring it will fasten economic growth in Georgia.
A group of Canadian investors are visiting Georgia to learn about the country’s business environment, particularly the progress made in supporting small and medium-sized enterprises (SMEs) and in creating a transparent investment environment.
Georgia welcomes Estonian Taxation Model
Georgia will soon enjoy the benefits of a more simplified and liberal Tax Code. The new Tax Code will contribute to improving the investment climate, attracting more investors and additional capital to the country.
Georgia enjoys simplified and liberal Tax Code
A new Tax Code that aims to improve the investment climate, attract more investors and additional capital to Georgia has come into force.
Georgia’s capital Tbilisi is preparing to host hundreds of top officials at a special meeting in November to discuss tax-related risks and exchange information for tax purposes.
Georgia’s capital Tbilisi is hosting hundreds of top officials at a special forum to discuss tax-related risks and exchange information for tax purposes.
Georgia’s economic team is working on modifying the country’s Tax and Criminal Codes, with the main goal to decriminalise economic crime and liberalise the tax code in order to further develop the Georgian economy.
Amendments to Georgia’s Tax and Criminal Codes have just come into play, with the main goal to decriminalise economic crime and liberalise the tax code in order to further develop the Georgian economy.
Georgia’s economic team is working on modifying the country’s tax legislation, with the main goal of improving the investment climate, attracting more investors and additional capital to the country.
Ongoing reforms and future plans for the development of the Georgian economy, as well as the Government’s economic policy were in focus of a meeting between the Georgian Economy Minister Levan Davitashvili and members of the American Chamber of Commerce, the Ministry said on Friday.
Tax on companies of Georgia’s financial sector will be set at 20 percent, with taxation of banks and other entities no longer set to be switched to the Estonian tax model, Georgian Prime Minister Irakli Garibashvili announced on Monday.