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Photo/ National Bank of Georgia

2 Billion GEL Will Be Written off to Taxpayers

Taxpayers, who do not have activities, more than 2,033 billion GEL will be written off within the frame of tax reform.

Namely, accrued and unpaid debt until January 1, 2011 (1,410,407,433 GEL will be written off to 69 700 entities ), penalties imposed on accrued debt until January 1, 2013, but they have to pay the principal amount (623,570,423 GEL should be written off to 27,380 entities in the case of payment of 339,513,617 GEL). Draft bill of tax reform has been discussed at the government session on Thursday.

Liberalization of the tax reform is based on the Estonian model. In addition, Ministry of Finance will no longer conduct the audit.

Merely, Revenue Service will carry it. The government expects, that productivity of the economy should be increased by this reform and business environment should be increased further.