13 June 2024,   23:41
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The Budget and Finance Committee rejected the justified comments of the President to the Draft Tax Code

The Committee discussed and rejected the justified comments of the President to the Draft Tax Code.

According to the Parliamentary Secretary of the President, Giorgi Mskhiladze, the President shares the part of the legal changes envisaging that the tax liabilities accrued to the natural persons before January 1, 2021, shall be written off including the penalty interests, and this part is reflected in the Draft submitted by the President.

According to him, the President did not share the record in the Law adopted by the Parliament stipulating that within the delegation of the property rights on all assets of the foreign enterprises registered in the tax haven (including the shares or stocks) to Georgia as of January 1, 2028, the incomes of the foreign enterprises registered in the tax haven shall be exempted from the profit/income taxes. Besides, the import of the hereof assets/goods to Georgia shall be exempted from the import taxes, and the Georgian enterprises shall be exempted from the property taxes as of January 1, 2030, in regard to the assets earned within the hereof transactions.

“The amendments submitted in an expedited manner that have been adopted by the Parliament without due economic or political analysis are unjustified and contain the discriminative provisions, and hence, cannot be supported and shared”, - the reporter noted.

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