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BAG: losses incurred during electricity generating will no longer be taxed

5dea0a9525da4
BM.GE
06.12.19 11:54
695
Upon the initiative and appeal of the Georgian Business Association (BAG), the Revenue Service has adopted decision that losses incurred during electricity generating will no longer be taxed. The information is released by BAG.

According to them, consultations were held related to the mentioned problem for the last three months. Several meetings were held, where representatives of BAG member companies and the Revenue Service, as well as the Energy and Water Regulatory Commission were involved.

"The issue of taxation losses incurred during electricity generating has been a major problem for power plants. Since, the loss could not be verified by appropriate meters, it was considered an unverified expense, but it had been the subject to taxation," the statement said.