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Prime Minister: No Sequestration on Accounts During the Period of Audit

Prime Minister: No Sequestration on Accounts

Georgian Prime Minister, Giorgi Kvirikashvili met Business Association members at the “Radisson” hotel. The meeting was closed for media and all leading businessmen were attending it.

The main objective of the meeting was to discuss substantial projects concerning the development of the country the government has planned for the business development.

“In such economic environment we currently live, there is no significant dynamical development neither in Georgia nor around it. For us, there will be huge variations, that gives us an opportunity to attract more direct additional investments in Georgia.”

 

In addition, I will name some of the components where there already exists slight changes. In the period of audit no sequestration on accounts will take place. The only case such occasion occurs is the decision of the court. As well as the VAT payment on imported inventories will be annulled. This is very important change.

“The unique agency that is allowed to take part in the audit process will be Revenue Services” – the Prime Minister said.