NEWS

How will the gov't support businesses amid the new coronavirus restrictions?

To ease the burdens for businesses and the public the government has announced supportive measures. Photo: Nino Alavidze/Agenda.ge.

Agenda.ge, 26 Nov 2020 - 17:40, Tbilisi,Georgia

The government of Georgia has imposed further restrictions to curb the spread of the coronavirus in the country today, however to ease the burdens for businesses and the public the government has also announced supportive measures.

Georgian gov’t introduces further coronavirus restrictions until Jan. 31

Georgian Prime Minister Giorgi Gakharia announced that the government will extend the benefits for businesses for another six months as those announced six months ago expired on November 1.

Government will again support employers to maintain jobs during the coronavirus crisis.

Monthly salaries of 1,500 GEL will be exempt from personal income tax for the portion of 750 GEL. The state will pay this tax. During the previous wave of coronavirus this support benefited 33,000 companies and reached 260 million GEL. We will continue this support for the next six months", said Gakharia.

PM Gakharia said that this phase four assistance portfolio, both targeted social as well as businesses will cost the state 1.10 billion GEL. Photo: Gov't of Georgia.

Gakharia said that property tax for employees in the tourism sector will be abolished by 2021, 'they will be fully exempt from property tax'.

In May of the current year when the government announced support for the tourism sector property and personal income taxes were deferred for four months for businesses operating in the sector. Now Gakharia said that the deferred income tax will be written off in full.

Gakharia also said that as 'the extremely affected' business in the country, the restaurant business will receive 'the most effective support' as it had the hotels industry which is subsidising the interest rates of the loans for six months.

This phase four assistance portfolio, both targeted social as well as businesses will cost the state 1.10 billion GEL", Gakharia said.

This is part of the support promised for the business sectors, while the social assistance measures will be published later by Agenda.ge.

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