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Local Jewelry Industry Asks Govn’t for Better Tax Incentives

Local jewelry company “Crystal” asks the government to provide tax incentives for the industry.

The company’s director Zurab Kobaidze told CBW that customs clearance regulations for the import of gold to Georgia should be revised.

According to him, if the government wants to develop local production, movement of precious metals in and out of the border should enjoy a more preferential tax regime.

Kobaidze cites Turkey as an example where import of precious metals is not subject to tax.

The businessman believes that if Georgia develops a similar approach to the jewelry industry, this will contribute to wholesale trade, as well as overall sector’s development.