07.May .2020 18:24

The tourism sector will be fully exempt from property taxes in 2020, while the income taxes to be delayed for 9 months

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Prime Minister Giorgi Gakharia said the tourism sector will be fully exempt from property taxes in 2020. As he explained at the presentation of the anti-crisis plan for the reopening of tourism, the income taxes of the companies working in the tourism sector will be postponed until the end of the year.

"During 2020, the tourism sector will be fully exempt from property taxes and this is a very important step for the sector. In addition, the income taxes of companies operating in the tourism sector will be postponed for 9 months, until the end of the year. We cannot promise a complete write-off of anyone's income, but it is possible to talk about the schemes of gradual payment,” PM Gakharia said.

As you know, we have promised to subsidize the loan interest rate of the hotels with up to 50 rooms and we have done it. Several thousand business operators and companies have benefited from this privilege. Today we are setting a new norm - we will subsidize hotels with an annual turnover of up to GEL 20 million, which will also be a serious support for the development of the sector, " said the Prime Minister.