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Archil Kontselidze: Any State Should Have More Flexibility During the Tax Change

Archil Kontselidze: Any State Should Have More Flexibility During the Tax Change

Neither of business is pleased with tax increase, – General Director of VTB Bank so responds withdrawal of Article 94 from the Constitution, but he does not consider himself in the radical wing, who categorically opposes it.

Archil Kontselidze thinks that any state should have more flexibility during the tax change.

“If taxes never change, it will damage Georgia’s investment potential – this is a very radical demand,” says the banker, adding that the tax rise should be made in a reasonable way: “excise has increased this year, but I do not think that big investors turned out the country”.

CEO of VTB Bank says that the country’s main problem is low economic growth, which is relatively high in the region but still remains low.

“It is better if our neighbors grow faster and we will grow up with them,” – said Kontselidze.

The banker names long-term protracted judicial process as another problem that will damage the business environment.