The representatives of the Ministry of Finance discussed the planned changes in the VAT law with the business sector

---

On the initiative of the business association "Georgian Employers' Association" and "Accountants Club Forum", Head of Tax and Customs Policy Department of the Ministry of Finance Mamuka Baratashvili and Deputy Head of Revenue Service Zurab Dznelashvili met with representatives of the business sector. The purpose of the meeting was to discuss the changes planned by the draft law in the provisions regulating value added tax of the Tax Code. It should be noted that the expected changes in order to get closer to the European Union directives will affect almost all the provisions regulating VAT, and the legislative norms will be formed with a completely new edition. According to finance representatives: The draft law was developed in order to bring the tax legislation closer to the European Union VAT Directive (2006/112/EC); the VAT regulatory provisions of the Tax Code are fully formed with the new edition; the introduction of European practice of the place of service and increasing the range of benefits related to international shipments will help Georgia become a center of international services to the formation process; compliance of Georgian and European VAT, together with the implementation of the rule of VAT refund on various business expenses, will improve the investment environment; an opportunity will be created to develop internal procedures for the purpose of applying the decisions and interpretations of the European Court of Justice in practice. Dispute cases will be reduced and the fulfillment of tax obligations will be simplified; After the presentation by the representatives of the Ministry of Finance, the meeting was held in discussion mode. The meeting, which was attended by representatives of more than 80 companies, was held in the conference hall of the European University.