“Today the insurance sector most of all needs revenue reinvestment and returning the incomes back into business,” – stated Nino Kobakhidze, Director General of Global Benefits Georgia in the TV-show Analitika. According to her, in general, any reform should concern everybody equally and discriminative division of who gets what and when is inadmissible.
“We need significant resources for preparatory works for introduction of mandatory insurance products, we also have obligations with regard to filling of the charter capital. It should also be noted that from our incomes we finance the insurance supervision service. I think there are many components for us to have this position. When talking to the founder of the company before entering the country, we emphasized the possibility of having simple tax system and revenue tax reinvestment, together with the business-package,” – stated Nino Kobakhidze and added that the insurance sector is in development stage, that is why Estonian model of revenue tax reinvestment possibility is a significant benefit for the sector.
According to Kobakhidze, at the present stage, they are actively consulting with the business-ombudsman office and the Ministry of Economy. Kobakhidze hopes that a constructive position that is being demonstrated by the Ministry of Economy, will have favorable outcome for the insurance sector.
As you know, transfer to the so-called Estonian model of revenue tax for the financial sector has been postponed till 2023, which is being protested against by the insurance sector.
