Finance-Budget Committee rejects President-proposed remarks on Tax Code amendments

15:37, 20.05.2024

The Finance-Budget Committee of the Georgian Parliament has reviewed and ultimately rejected the President-proposed remarks regarding the amendments to the Tax Code of Georgia.

According to Giorgi Mskhiladze, the President’s Parliamentary Secretary, the President endorsed the draft law’s provision for writing off tax debts incurred before January 1, 2021.

However, the President opposed a particular provision stipulating the preferential tax treatment in instances where the ownership of all assets (including shares) of a foreign enterprise registered in a country with preferential taxation is transferred to a Georgian enterprise before January 1, 2028.

“These hastily adopted changes, lacking proper economic or political analysis, are unjustified and contain discriminatory provisions. Therefore, they cannot be supported or endorsed,” Mskhiladze stated.

By - Tamar Tabatadze

Economics

Politics

Finance-Budget Committee

Tax Code amendments