Economy Minister says amendments on tax code have attracted “capital, investments, property” to country

Georgian Economy Minister Levan Davitashvili on Monday said recent amendments in the domestic tax code, aimed at asset transfers from countries with preferential taxation to Georgia, had allowed the country to attract “more capital, investments and property” and make it an “attractive investment country for investors”.

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Davitashvili said the Government had introduced tax relief as part of the Government’s economic policy to make the investment environment “even more attractive”.

In previous years, we have liberalised taxes to make our investment environment even more attractive. The law is entirely appropriate, as the trends in the world suggest there is less trust in countries with preferential tax regimes. This provides the perfect opportunity for Georgia to attract new investments and capital”, he said.

The Minister said he believed the legislative initiative aligned with the goal of turning the country into an “investment-attractive financial centre”.

Davitashvili also noted the potential introduction of new tax benefits, adding the Government was discussing new tax incentives initiatives.