12.Oct .2021 14:00

How Much Lease Tax And Fines Will The Gov't Forgive The Business?

How Much Lease Tax And Fines Will The Gov't Forgive The Business?
views 370
Back

Individuals and legal entities leasing state property in Georgia and who have been affected by the Covid-19 outbreak will be exempted for back rent accrued between March 21, 2020 and March 21, 2021.

In addition, they will be exempt from paying penalties imposed for non-payment of leasing fees, announces Georgian Economy Minister Natia Turnava.

"In total, we are talking about rent and lease fees of more than 5 million GEL, to which late payment or non-payment penalties of about 1 million GEL has been added", Turnava said.

She added that entities who have already paid the taxes in full or in part will enjoy new tax breaks during the next payment period, 'which is absolutely fair because everyone suffered from the Covid-19 crisis equally', she said.