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180 Entrepreneurs Get Surplus VAT back under Simpligied System

A total of 180 entrepreneurs have got back surplus VAT under the simplified system, Minister of Finance Mamuka Bakhtadze noted in his live address on Facebook. This is fourfold more amount than in 20167, he said.

“To implement the mentioned reform in 2017, we created important buffers. We want that about 0.5 billion GEL be returned to entrepreneurs. The figure will increase to 650 million GEL in 2019. We urge everybody with surplus VAT to timely fill out the application”, the Finance Minister said.

Starting the second half of 2018 surplus VAT will be returned in automotic regime and this signifies that the system will return excessive payments back to entrepreneurs.

As reported, the simplified system for paying surplus VAT back to business was introduced on January 15.