Companies took tax refund of more than 200 million GEL in the first eight months of 2021, said Deputy Finance Minister Tsotne Kavlashvili, noting that the turnover of VAT-tax payer enterprises increased by 26.5% compared to the same month of the last year.
Deputy Minister of Finance notes that the process of economic recovery is continuing at a rapid pace and economic growth has amounted to 9.9% in July.
“We have high rates in the direction of exports. It should be noted that when the Ministry of Finance entered the Parliament with the amended budget plan, we presented the baseline scenario with 7.7% economic growth, on which our budget policy is based, and we noted that we had high expectations for a positive scenario and double-digit economic growth. It is according to this scenario that economic trends are developing. This is due to our effective economic policies and targeted fiscal packages, which are provided by the budget," - said the Deputy Minister of Finance.
According to him, the process of returning the excess tax to the VAT-tax payer enterprises is going smoothly.
"According to the figures for the first 7 months of this year, we have returned 55 million GEL to the companies, which exceeds the figure for the 12 months of 2020. In addition to that, the trend observed in August is also noteworthy. We can already say that August 2021 will be a record year in terms of VAT tax mobilized in the budget. Such a high rate was not observed not even in July 2019, when the so-called 'golden list' was abolished and the country's budget received up to 600 million GEL," - Tsotne Kavlashvili said.
