NBG – Process of taking bank credits to be facilitated for physical persons
NBG – Process of taking bank credits to be facilitated for physical persons

The process of taking bank credits will be facilitated for physical persons who have their revenues declared – The joint project of National Bank of Georgia (NBG), Revenue Service and the government will be activated starting October 2018.

According to NBG, verification of revenues will become obligatory and the maximal limit of interest rate coefficient will be defined. Information exchange system will be activated between Revenue Service of Finance Ministry and commercial banks in that regard.

The bank will require the following documents: Note about the salary and record from the bank. Also, based on changes made into Tax Code, turnover tax will be reduced to 1% for small business owners.