Georgian PM says tax debts totalling $218.55 mln to be “completely written off”
Irakli Kobakhidze, the Prime Minister of Georgia, on Monday said 145,000 individuals would have their tax debts totalling ₾590 million ($218.55mln) “completely written off”.
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Irakli Kobakhidze, the Prime Minister of Georgia, on Monday said 145,000 individuals would have their tax debts totalling ₾590 million ($218.55mln) “completely written off”.
He added all private entities, including individual entrepreneurs, would have their recognised tax debts - incurred and unpaid before January 1, 2021 - fully written off once the bill was passed.
In Georgia, there is quite a large number of individuals who have tax debts and [...] are deprived of the opportunity to conduct economic activities, therefore we decided to write off relevant debts”, he said.
The PM added the decision had been made to enable the subject entities and individuals to “participate in the country's economic life”, and expressed his appreciation for the Ministry of Finance for preparing the bill.
Unpaid fines with a total value of 76 million GEL (about 24.09m/€20.16m) will be written off for 245,000 Georgian citizens and 344 legal entities for not wearing facemasks and staying out of isolation or quarantine, announces Georgian Prime Minister Irakli Garibashvili. He added that the bill to write off the fines was sent to the parliament today and will be approved 'in the shortest period of time'.
Following the request of 24 radio companies operating in Georgia, the government has decided to write off accumulated debt worth 1.5 million GEL for the radio companies by the end of the year, announces Minister of Economy Natia Turnava.
More than 150,000 pensioners will see a reduction in their loan interest rates, following a decision reached during a meeting on Thursday between Georgian Prime Minister Irakli Kobakhidze, Natia Turnava, the Acting Governor of the National Bank of Georgia and the Chief Executive Officer of the Liberty Bank Beka Gogichaishvili.