23.Sep .2021 14:30

Why Should We Punish Persons, Who Make Investments? – Financier

Why Should We Punish Persons, Who Make Investments? – Financier
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Financier Giga Bedineishvili does not support the introduction of differentiated income tax in Georgia. International Monetary Fund published a report, where the IMF notes that 20% income tax is a disproportionately heavy burden for low-income earners.

Financier Giga Bedineishvili declares that 20% income tax can be a really heavy burden for people, but we cannot "punish" high-income people.

“Of course, we should try to keep the tax pressure low, but if we follow the so-called income-differentiated tax rates, it will not do any good. It will create a rather bad motivation for the development of the economy.

If we impose more taxes on the wealthy part of society, it means that we have taxed more people who invest and set up businesses. If we punish these people for starting a business, we will not have economic development and growth, which will be a problem for low-income people as well, because they are employed in such companies. Job opportunities will be reduced for them as well - in general, we will all be worse," Giga Bedineishvili said.