Business society ask Georgian PM to explain cancellation of simplified customs procedures for ‘golden list’ companies

The business society of Georgia has called on Prime Minister Mamuka Bakhtadze to explain the cancellation of customs procedures for companies included on the so called ‘golden list’.

Many members of the business society of Georgia are disappointed with this decision of the Georgian Finance Minister and have requested a clarification of the reasons for making the decision without preliminary consultations with the business community earlier this month.

However, as the business society announces today “unfortunately we have not received an answer” from the minister and now they have addressed Bakhtadze personally to give them explanations.

Discontent was given rise to by a decree of the Georgian Finance Minister issued on May 31, 2019, which obliges all companies operating in Georgia to abide by the same deadline for paying import taxes – five days instead of the former 30 for certain companies.

Starting June 12, the new deadline is valid for import tax on only excisable goods while for other imported goods the changes will enter into force on July 2, 2019.

The changes affect the companies of the so-called 'golden list', which enjoyed a number of preferential conditions, including the simplified customs procedures and longer deadlines for paying import taxes.

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

The business union that addressed Bakhtadze today include the Taxpayers Union Georgia, Georgian Distribution Business association, Infrastructure Builders Association, Georgian Retailers Association, International Chamber of Commerce, German Business Association (DWV), Georgian SME Association, the Union of Oilproducts Importers, Georgian Producers' Federation, Georgian Swiss Business Association and Georgian Employers' Association.