Th Minister of Finance Lasha Khutsishvili has introduced today new tax initiatives. As he said, these initiatives will help to overcome challenges caused by the COVID-19 pandemic.

“The taxpayer, who has a current recognised / unrecognised tax debt, will be able to fully reduce the accrued fines / penalties by paying the principal amount of the tax.

Taxpayers must apply to the Revenue Service of Georgia before August 1 of 2021 with a request to conclude a tax agreement and pay the principal amount of the tax by December 31, 2021.

This initiative concerns the tax arrears of all taxpayers (including debts in tax disputes), except in cases where there is an ongoing criminal case against this taxpayer for an economic crime under the Criminal Code.

This is a one-time initiative and is related to overcoming the difficulties caused by the pandemic for taxpayers”, - explained the Minister.