Gov't to help companies that bought, leased state property through auction and suffered during pandemic
Georgian Economy Minister Natia Turnava said that the government had already approved the amendments to the law at today's meeting. Photo: Ministry of Economy.
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The government of Georgia will help companies that bought or leased state property through auctions and later suffered during the pandemic, announces Georgian Economy Minister Natia Turnava.
The government will provide benefits to the companies that bought state property through auctions on various terms and were unable to pay fees and fulfill investment conditions due to the pandemic, as well as those who leased state property and accumulated rent taxes", said Turnava.
Turnava said that the government had already approved the amendments to the law at today's meeting.
She said that about 109 small and medium-sized companies will receive benefits as a result.
Amendments to the Law of Georgia on State Property will be submitted to the parliament in the near future, announces the Ministry of Economy.
What support can business expect?
The government of Georgia has presented an anti-crisis plan for Georgian businesses in order to ease the burden caused by the coronavirus crisis. The government responded to the demand of the hotels, restaurants, tourist agencies and tour operators in Georgia and decided to postpone payment of property and income tax by four months.
The government of Georgia is announcing amendments to the state programme of 'Produce in Georgia' and a credit guarantee programme to further help local companies start new businesses or develop already existing ones.
Georgian Economy Minister Natia Turnava held a presentation today on how the government is planning to help local businesses and especially small and medium-sized businesses reopen and overcome economic difficulties caused by the coronavirus pandemic.
Georgian Prime Minister Giorgi Gakharia announced earlier today how the government intends to help businesses and agriculture during the COVID-19 crisis.
In order to overcome challenges caused by the coronavirus pandemic, Georgian Finance Minister Lasha Khutsishvili has introduced new tax initiatives today.
Individuals and legal entities leasing state property in Georgia and who have been affected by the Covid-19 outbreak will be exempted for back rent accrued between March 21, 2020 and March 21, 2021. In addition, they will be exempt from paying penalties imposed for non-payment of leasing fees, announces Georgian Economy Minister Natia Turnava.