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Giorgi KakauridzeGiorgi Kakauridze

Government to Write Off 550 million GEL Debts from Business Sector

Prime Minister Mamuka Bakhtadze has proposed to write off tax debts from business sector accumulated before January 1, 2013. To enable business to continue valuable operation, debts will be written off from 36 000 taxpayers, Bakhtadze noted.

The bill of amendments to Tax Code was discussed by the finance and budget committee by first hearing. Deputy Finance Minister Giorgi Kakauridze noted at the committee meeting that the bill calls for writing off tax debts, fines and sanctions accrued before January 1, 2013. 

In whole, this initiative will refer to 28 000 taxpayers, not 36 000 ones. Total sum to be written off makes up 550 million GEL.

The finance and budget committee has approved the bill of amendments to Tax Code by first hearing.