Minister of Finance spoke about the tax privileges for small and medium businesses.

According to the legislative initiative, a small entrepreneur will be a person whose income is 500,000 GEL. For entrepreneurs, the turnover tax will be reduced and it will be 1%. The new tax regime will touch 120 thousand entrepreneurs and enter into force from July 1.

"The small entrepreneur status will be given to every person whose income does not exceed half a million GEL Today the limit is 100 thousand GEL and we are growing it five times, by five times we reduce taxes for our entrepreneurs" -said Bakhtadze.