UNECE study: Georgia among top trade reformers in the region
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The United Nations Economic Commission for Europe (UNECE) names Georgia as the top trade reformers in the UNECE region with its "lean institutional set-up and paperless trading environment”.
Today, it takes 30 minutes for imports to pass customs and documentary requirements are reduced to two documents only (transport document and commercial invoice or sales contract). Exports are cleared in only 10 or 15 minutes, depending whether standard or advance procedures are used. Georgia exported goods worth $ 2.11 billion in 2016, and imported goods worth $ 7.27 billion”, says the UNECE Study on regulatory and procedural barriers to trade in the country.
#Georgia is among top #trade reformers in @UNECE region, finds new UNECE study. Deputy Minister G Arveladze says the country stands ready to share its experience with others in implementing reforms in areas incl. #TradeFacilitation & #standardization. https://t.co/eo2fXskGnNpic.twitter.com/bSLoYGKxOz
— UNECE (@UNECE) May 3, 2018
Traders can obtain the customs declaration, necessary permits and the EUR 1 movement certificate online via the eCustoms interface and the Single Permit System; long wait times at border crossing points are avoided thanks to the electronic queuing system. At the border, control is undertaken by two agencies only (the Revenue Service and the Patrol Police), and traders have a choice of six Customs Clearance Zones, four clearance divisions, and 20 land, air and maritime Customs Crossing Points to clear their goods”, the study reports.
65 traders from across the country appreciated the high level of transparency in interviews.
Traders are kept abreast of trade-related regulatory and procedural requirements through online information dissemination systems and public-private consultations managed by different line ministries.
Georgia has been named as a striking example of successful tax revenue reforms, the International Monetary Fund’s new report, Balancing Act: Managing the Public Purse, says.
Georgia is the easiest place in emerging Europe to do business, shows the World Bank’s Doing Business report and this achievement was recognised at a conference held yesterday in Washington, D.C.
Georgia is steadily improving its international reputation by making governmental and financial dealings of the country more transparent. Results of the Open Budget Survey 2017 (OBS) released today by the International Budget Partnership ranked Georgia 5th in the world out of 82 scores, based on an analysis of 115 nations’ budget transparency, participation and oversight.
Georgia praised for ease of compliance with tax law
Georgia ranks 22nd out of 190 countries according to the World Bank and PwC Paying Taxes 2018 report, which compares countries by the ease of complying with tax law.
The offenders may face imprisonment from five to seven years.
The Open Budget Survey 2019 by the International Budget Partnership ranks Georgia 5th in the world out of 81 scores out of 100, based on an analysis of 117 nations’ budget transparency scorings, participation and oversight.
Georgia is now the highest ranked country on budget transparency in Open Budget Survey 2021 published by the International Budget Partnership on Tuesday.