The Georgian Minister of Economy and Sustainable Development has met with representatives of small and medium business sectors in Kutaisi to discuss new tax regime and open dialogue between government and business as part of preferential tax regime.
Minister of Finance Nikoloz Gagua and representatives of Georgian Chamber of Commerce and Industry (GCCI) have taken part in the meeting.
“This is an unprecedented tax regime that the Government offers to small and medium entrepreneurs. Objective of this regime is to encourage small and medium business sectors so as they show more initiatives for business development”, the Minister of Economy and Sustainable Development said.
Giorgi Cherkezishvili stressed that Government prioritizes development of small and medium business sectors.
“Ministry of Economy and Sustainable Development has been implementing various state programs that are immediately related to small and medium business development and we have a lot of success projects, including ongoing projects. We are happy we have met with beneficiaries of this program and discussed what to do for development of the mentioned programs”, Giorgi Cherkezishvili said.
According to amendments to the tax code, the status of a small business is conferred to physical entrepreneurs with about 500 000 GEL annual turnover, instead of previous 100 000 GEL turnover.