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Lasha Khutsishvili

Finance Minister to Approve Taxing Advance Payment by VAT after Consultations with Business Sector

Deputy Finance Minister Lasha Khutsishvili has met with representatives of Association of Oil Product Importers. At the meeting the parties discussed issues of imposing VAT on advance payment.

Deputy Finance Minister Lasha Khutsishvili noted  that working version of instructions for taxing advance payment by VAT has been developed. It is of crucial importance for Ministry of Finance that remarks and proposals by business sector be maximally taken into account before final approval of the document.

“The tradition continues, when in the process of developing law and by-laws, Ministry of Finance and business sector cooperate closely. Today we met with representatives of Association of Oil Product Importers and discussed the mentioned working version of instructions. The mentioned instruction has been published on website of Revenue Service.

We will wait for comments and remarks of business sector for a week and finally, by-laws will be approved after consultations with business sector”, Lasha Khutsishvili said.

“Our association keeps best communication with Ministry of Finance. This year we have conducted the third meeting on various thematic issues. As a rule, after this dialogue, we achieve consensus. Our considerations over the working version of instructions have coincided with position of Ministry of Finance. The Association member companies will comprehensively explore the working version and we are sure our remarks will be taken into account”, Giorgi Kotrikadze, chairman of Association of Oil Products Importers, noted.