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Tag Archives: Mamuka Bakhtadze

Timber Import to be Exempted from VAT

“Timber import will be exempted from VAT,” – stated the Prime Minister Mamuka Bakhtadze before the government session. According to him, with this decision, there will be less motivation for cutting trees in Georgia and there will also be certain benefits for lumber and plank export. “We will be intolerant …

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Prime Minister Announces Green Economy Strategy

Prime Minister Mamuka Bakhtadze announced a new green economy strategy, which presentation will be held in a few days. “The green economy is an absolute priority for us, which will enable us to take a new level of economics and lifestyle quality of our citizens.Most European countries have embarked on …

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Unique Tax Regime Comes into Force in Georgia

On July 3 the preferential tax regime came into force with the aim to promote small entrepreneurship. The new tax regime will be applied to about 120 000 physical entrepreneurs. According to the new initiative, the small business status will be conferred to entrepreneurs, whose consolidated annual revenues are about …

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Prime Minister Introduces Package of Structural Changes in Government

Prime Minister of Georgia Mamuka Bakhtadze has introduced a package of structural changes in the Government. At the briefing that was held at the Government’s Office, Mamuka Bakhtadze told reporters that the number of Ministries will be cut to 11 ones, including 1 office of State Minister. Mamuka Bakhtadze has …

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Excessive Debt Stifling Georgia

Mamuka Bakhtadze: “Irresponsible lending pushed 630,000 citizens onto the black list” “Today excessive debts stifle the country. This is the only relevant appraisal that we can give to the current situation in terms of excessive indebtedness. It is an important source of impoverishment. On the one hand, it narrows incomes …

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PM: We will Apply Blockchain Technologies in Tax Administration

“All taxes, excluding VAT, will be based on BlockChain technology”, Prime Minister Mamuka Bakhtadze told the Parliament. The country has made progress in terms of introduction of innovative technologies in tax administration, however, the country comes behind such countries which efficiently apply digital technology in economy. “We should be oriented …

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Government to Write off All Tax Debts Accumulated before 2013

Government of Georgia plans to write off all tax debts accumulated before 2013, Mamuka Bakhtadze, candidate for the Prime Minister;s position noted. “I want to unveil a very important initiative. When talking about unfair rules in economy, the years of 2011-2012 were the most evident samples, when incorrect tax liabilities …

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Government Size to Decline to 4.2% of GDP

The Government size will decline to 4.2% of GDP by the end of 2018, Mamuka Bakhtadze, a nominee for the Prime Minister’s position, told reporters. “The concept of a small government does not imply only a reduction of quantity of Ministries. This concept also determines the small government’s ratio in …

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PM Candidate: We will Free Representative Companies from Taxes

Mamuka Bakhtadze, a nominee for the position of Prime Minister, has proposed to free representative companies from taxes to attract major international companies to the country. As a result, domestic business companies will get the chance to develop their directions. “As reported, in 2017 Georgia recorded a historical maximum of …

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Georgian Dream Party Introduces New Prime Minister of Georgia

Georgian Dream party presented Mamuka Bakhtadze as the New Prime Minister of Georgia. Yesterday Georgian Prime Minister Giorgi Kvirikashvili announced his resignation after a series of antigovernment protests shook the capital, Tbilisi. Kvirikashvili made the announcement on June 13, citing “disagreements” with the leader of the ruling Georgian Dream party, …

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New Regulations for Credit Companies

New and fairer rules will be established in Georgia’s banking and finance sector to protect consumer rights, Minister of Finance Mamuka Bakhtadze said. The reforms are to establish new qualitative standards and support sustainable, long-term economic growth. Excessive indebtedness is a key challenge the reforms will address, as it is …

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