Georgia Considers Tax Code Amendments

A Bill containing various amendments to the Tax Code has been discussed and agreed by the Georgian Economic Council.

Among the measures contained in the Bill is a reduction in the rate of tax for individuals letting property, from 20 percent to five percent. There is also a proposed incentive for importers of cars and an extension to VAT payment deadlines for importers of wheat.

There are additionally plans for the signature of double taxation agreements with Oman, Lebanon, Liechtenstein, Cyprus, and Morocco.

The Bill will now be tabled in Parliament for debate.