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Some Investors may be Exempt from Paying Income Tax

Some investors may be exempt from income tax – Economy Minister Giorgi Kvirikashvili states.

According to him, it is difficult to say what criteria will be used in determining  such companies and now the government is working on this issue.

“As for the liberalization of the tax policy, we are now considering the possibility of exemption from income tax in case of capital reinvestment and dividends tax. The details will be known later, “- the Minister notes.

In his words, the budget may lose GEL 700-800 million, so this practice will be implemented in stages.

“This decision will have a very significant administrative effect as will significantly  liberalize the business, as a significant portion of the tax is paid as  income tax,” – says the Minister.