Retail Association, which unites the country's largest retail chains, responds to the Business Association of Georgia's statement regarding the extension of the tax incentives. Given the existing economic difficulties, it fully shares the need for amendments to the Tax Code.
According to the association, the Georgian government's business support package during the first wave of the global pandemic helped most companies survive, retain jobs, and adapt to the difficulties caused by the lockdown. However, the support of further tax break extensions beyond a significant six-month period is important.
"As we can see, the second wave of the pandemic is even more aggressive, and even though the pandemic is controlled without a systemic lockdown, deteriorating economic conditions, declining purchasing power and rising prices due to exchange rate fluctuations pose significant challenges to the sector.
We join the statement issued by the Business Association of Georgia yesterday and appeal to the government to extend the income tax exemption for salaries up to GEL 1,500 for an additional 6 (six) months, which will allow us to maintain both jobs and salaries, to cover the additional costs that are necessary for the implementation of measures against the spread of coronavirus in the workplace," - said in a statement.
