Members of the Association of Georgian Employers met with the Minister of Finance, Mamuka Bakhtadze

---

The members of the Association of Georgian Employers met with the Minister of Finance, Mamuka Bakhtadze, to get acquainted with the macroeconomic situation in the country and the package of changes planned in the tax legislation. The prepared draft law envisages the promotion of the development of the capital market, the fulfillment of the obligations undertaken by Georgia within the framework of the association agreement signed with the European Union, and the clarification of individual issues of taxation of taxpayers. The changes prepared for the development of the capital market, which were developed with the participation of experts from the International Monetary Fund based on the best practices in the world, are particularly important in the mentioned package of changes. Another change provides for the development of the arrangement of trade zones, the clarification of certain issues of taxation of taxpayers. These changes will contribute to the development of the mentioned sector, its operation in accordance with modern standards, regulation of taxation issues, promotion of small business. The package also provides for the changes to be carried out in terms of fulfilling the obligations stipulated by the Association Agreement with the European Union. In accordance with the presented changes, a number of tax benefits will continue until 2023. Regarding the introduction of an automated redundancy return system for businesses. A system is being developed so that the entrepreneur does not have to deal with any additional bureaucracy and only on the basis of filling out an electronic application, it is possible to return the excess VAT in 5-7 working days. This is especially important for medium and small businesses, to stimulate them, because they will have additional financial resources for development. More than 100 member companies of the Association of Georgian Employers attended the meeting. The business association GEA systematically organizes similar meetings with representatives of various government agencies, so that the business sector is actively involved and informed as much as possible.