In 1H2024, the government of Georgia received GEL 9.9 billion in tax revenue, which was GEL 515 million more than the planned amount. According to the report by the Ministry of Finance, all general government tax plans, including value added, profit, income and excise taxes, were over-executed.
Tax Performance in 1H2024:
VAT - 3.54 billion GEL, 102% of the 6-month plan;
Income tax - 3.27 billion GEL, 104% of the 6-month plan;
Profit tax - 1.73 billion GEL, 108% of the 6-month plan;
Excise tax - 1.18 billion GEL, 117% of the 6-month plan;
Import tax - 68 million GEL, 95% of the 6-month plan.
As for the privatization income, 99 million GEL was directed to the central budget in the first half of 2024, which represented 135% of the 6-month plan.
Taking into account the increased tax revenues, the Government of Georgia plans to increase the 2024 budget by 519 million to 25.5 billion GEL.
