Georgian PM speaks about lifting tax breaks, requests study into issue
The government will have to reconsider the tax breaks which have been in question for a long time, noted PM Gakharia several days ago. Photo: Nino Alavidze/Agenda.ge.
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Georgian PM Giorgi Gakharia has once again spoken about lifting tax breaks in the country and said that an effective study has to be conducted into the issue.
He said that tax agreements and the system of tax disputes should be reconsidered.
Gakharia noted that some businesses have VAT benefits but the reason is unclear.
A tax agreement is something of an anachronism, a reminder. We think we are helping a particular business to get out of specific problems and we are actually getting them used to very bad practice,” said Gakharia.
Georgian PM compared the tax agreement to indulgence, and noted that as far as he knows, tax breaks do not exist anywhere in the world in such a way.
The government should start thinking about the privatisation of state-owned enterprises, said Acting Prime Minister Giorgi Gakharia earlier today in parliament, noting that this does not apply to strategic companies.
The government will have to reconsider the tax breaks which have been in question for a long time, said Acting Prime Minister Giorgi Gakharia earlier today.
This year Georgia has spent its fiscal buffers (reserves) which increased the 2020 budget deficit to 9.1 per cent, while government debt to GDP ratio increased to 59.9 per cent, said Finance Minister Ivane Matchavariani earlier today when presenting the 2020 annual activity report of the Finance Ministry.
Georgian Economy Minister Natia Turnava has summed up the activities of the Ministry of Economy in 2020 today. Turnava informed the public about the ministry's participation in the process of managing strict and point-based restrictions due to the coronavirus pandemic and said that a number of electronic platforms have been set up for this purpose.