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Part of the Basic Means’ Import Will Exempt From VAT

Part of the Basic Means’ Import Will Exempt From VAT

Ministry of Cabinet will approve the list of industrial means, which import will exempt the importers from VAT, if these basic means are used during VAT taxable operation – Georgian Prime Minister has talked about the amendments, which should be made to the TAX Code, before launch of the government session.

“Important amendment will be made to TAX Code. This is the list of industrial means, which import will exempt from VAT, if the import is used for creation of value-added tax. This is essential step within the frame of 4-point plan, part of those tax amendments which we have started. This is a continuation of the reform, which serves to the improvement of business environment and simplify doing business,” – George Kvirikashvili said.