14 August 2022,   08:08
Finance Ministry asks TV companies to pay off principal of their state debt

The Ministry of Finance urged Georgian TV companies which have current tax debts to the state to pay the principal of the accumulated debt starting October 1, 2019 and has given them one day to comply.

On August 14, the Finance Minister Ivane Matchavariani called on leading Georgian broadcasting companies with high tax debt to present plans to restructure their accumulated debt and start paying current tax debts.

According to the Ministry, the agreement between the Revenue Service and the Ministry of Finance about debt restructuration is still in the process, but TV companies have not started paying off existing tax debts.

The Revenue Service is obliged to implement the measures defined by the Tax Code of Georgia, in case of avoiding paying tax debts.

The Ministry of Finance is aware of the important role of TV companies in the development of democracy in Georgia and that is why the state took into account their interests maximally the proof of which is the tax debt accumulated over the years, preferences on paying taxes and still ongoing negotiations on their tax payment schedule, reads the announcement of the ministry.

The preferences for TVs to pay taxes creates a non-competitive environment and is unfair to other taxpayers who pay taxes.

The Finance Ministry says that protecting the interests of all taxpayers and manage public finances effectively is the obligation of the state which means that tax income should be used for citizens and the state overall for social and other important needs.