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Business Will Have to Make Income Tax Declaration With New Rules From Tomorrow

Business Will Have to Make Income Tax Declaration With New Rules From Tomorrow

Academy of the Ministry of Finance and Small and Medium Enterprises Association (GSMEA) carried out a public lecture on income tax reform, which was attended by representatives of small and medium businesses.

The public lecture was attended by the First Deputy Minister of Finance, who pointed out the importance of the meeting and said that the government is collaborating with business associations, in order to inform the business better on tax reform and its benefits.

“Taxpayers will have to make income tax declaration with new rules from tomorrow. We tried to prepare them for this day. So, we held public meetings across the country “, – Giorgi Tabuashvili declared.

He noted that as of the research carried by the US Agency for International Development (USAID), this reform will accelerate economic growth about 1.5%.

“As a result of the reform, tax administration and accounting will simplify, which means savings for the business,” – said Deputy Minister of Finance Giorgi Tabuashvili.