The Government of Georgia decided to exampt from the tax liabilities the companies activity was suspended due to the debt.
The statement was made by the Prime Minister of Georgia. Mamuka Bakhtadze said at a briefing today that the debt will be annuled for the companies as of January 1, 2013.
He said that this step will help to improve the economy and create additional jobs.
"The initiative relates to tax payments for companies that have been forced to stop work due to tax liabilities, but most of these debts are in 2011-2012, but since we have maintained a systemic approach, we have made a decision and the initiative implies tax cuts as of January 1, 2013, for companies which were forced to stop commercial activities due to debt.
We have no luxury in the economy to have unused assets and unused opportunities. We think that this step will help to create additional jobs and return to active economic activity, "Mamuka Bakhtadze said.