State Adjusts Tax Policy Depending On The Situation - Minister

13:25 Fri, 03 February

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06.Dec .2022 18:00

State Adjusts Tax Policy Depending On The Situation - Minister

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Author:Natia Taktakishvili

Levan Davitashvili, Minister of Economy of Georgia declares that the state tax policy will be adjusted based on the current situation. According to him, the tax changes are planned for two purposes: developing the right compensation packages for vulnerable groups and maintaining economic growth.

"Yesterday, the Minister of Finance presented a package of changes to the government, certain changes are planned to be made in the tax code - tax breaks were postponed, as well as adjustments were made to the Estonian model in relation to financial institutions.

I think these changes will be approved by the Parliament of Georgia in the near future. This is an adequate policy for the reality that we have. The state adjusts the policy depending on the situation, on the one hand, properly implements the social responsibility of the state and, on the other - maintain the growth and stability of the economy. Today, that is the goal of our budget. This is the main focus, because there is a lot of uncertainty in the world, due to the expected recessions of the world economies. Therefore, the right compensation packages are offered to vulnerable groups, at the same time, the Georgian budget maintains an emphasis on significant infrastructural capital expenditures so that the economy will continue to grow in the future," said the minister.

Levan Davitashvili Economy Minister