The Ministry of Finance published the updated version of the 2024 budget. According to the document, the government plans to collect GEL 18.3 billion in taxes next year. This amount is GEL 2 billion more compared to this year.
The income tax plan increases the most, the growth amounts to GEL 1 billion. Value Added Tax ranks the second, which will increase by GEL 718 million.
Tax Plan For 2024:
• Value added tax - GEL 7.39 billion, an increase of 718 million GEL;
• Income tax - GEL 6.16 billion, an increase of 1 billion GEL;
• Profit tax - GEL 2.06 billion, an increase of 63 million GEL;
• Excise tax - GEL 2.36 billion, an increase of 265 million GEL;
• Import tax - GEL 161 million, an increase of 31 million GEL;
• Other taxes - GEL 176 million, a decrease of 73 million GEL.
In addition, the government expects to get income tax of GEL 60 million from gambling permits, GEL 24 million - from state customs, GEL 150 million - from state sanctions.
