Economy
Posted: 2 weeks ago

Tax Administration Process to Simplify for Taxpayers

The continuous process of refining the tax system is underway through the joint efforts of the government and the private sector.

Changes are being made to tax administration as a result of the successful cooperation:

• The fee for writing off damaged/spoiled goods valued at up to 100 GEL is being cancelled;

• The regulations governing the writing off of goods are being simplified for food and beverage facilities;

• Retail facilities are given the opportunity not to tax losses amounting to 1% of the income received from the sale of foodstuffs.

As a result, the tax administration process is being simplified for taxpayers who have well-organized accounting, reducing the financial and time-related expenditure of business.

This initiative is yet another important example of the cooperation between the government and businesses, which fully reflects the interests of businesses and is compiled in accordance with the proposals and opinions of the businesses.