Additional benefits will be provided to the business sector

2021/01/12121-1610350443.jpg
Read: 1066     11:00     11 ЯНВАРЬ 2021    

According to the Minister of Finance of Georgia Ivane Machavariani, to improve the economic environment in the country, the business sector will be provided with additional benefits, in particular:

• Within 6 months from December 1, 2020, the employer will again have the right not to pay withheld and payable income tax in the amount of up to GEL 750 to the budget, if the salary received by the employee does not exceed GEL 1500. "In connection with these changes, the financial component will be equal to 270 million lari," the minister said.

• The possibility of providing property rental services with taxation during the period of payment of the corresponding amount. "Simply put, this is a cash method, that is, VAT is taxed and declared in accordance with the amount physically paid." This area required these changes, " the minister said.

• In 2021, the decision on property tax exemption in the tourism sector will be implemented. This includes hotels and restaurants. "More than 1,000 companies and more than 30,000 employees will benefit from this benefit. In total, the result of the benefits will be 45 million lari."

* The 2020 income tax will be deducted from those companies in the tourism sector whose payments were delayed during the first wave of the pandemic. "There are more than 1,000 such companies," said Ivane Machavariani.

• For hotels located in Bakuriani, Gudauri, Goderdzi Resort and Mestia, tax payments will be transferred from November 2020 and December 2020 to July 1, 2021 without interest. "These municipalities were chosen because hotels in these resorts were limited," the minister said.

Ivane Machavariani spoke about economic benefits and assistance at a briefing held after the meeting of the Interdepartmental Coordination Council of the Government of Georgia.

 

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Additional benefits will be provided to the business sector

2021/01/12121-1610350443.jpg
Read: 1067     11:00     11 ЯНВАРЬ 2021    

According to the Minister of Finance of Georgia Ivane Machavariani, to improve the economic environment in the country, the business sector will be provided with additional benefits, in particular:

• Within 6 months from December 1, 2020, the employer will again have the right not to pay withheld and payable income tax in the amount of up to GEL 750 to the budget, if the salary received by the employee does not exceed GEL 1500. "In connection with these changes, the financial component will be equal to 270 million lari," the minister said.

• The possibility of providing property rental services with taxation during the period of payment of the corresponding amount. "Simply put, this is a cash method, that is, VAT is taxed and declared in accordance with the amount physically paid." This area required these changes, " the minister said.

• In 2021, the decision on property tax exemption in the tourism sector will be implemented. This includes hotels and restaurants. "More than 1,000 companies and more than 30,000 employees will benefit from this benefit. In total, the result of the benefits will be 45 million lari."

* The 2020 income tax will be deducted from those companies in the tourism sector whose payments were delayed during the first wave of the pandemic. "There are more than 1,000 such companies," said Ivane Machavariani.

• For hotels located in Bakuriani, Gudauri, Goderdzi Resort and Mestia, tax payments will be transferred from November 2020 and December 2020 to July 1, 2021 without interest. "These municipalities were chosen because hotels in these resorts were limited," the minister said.

Ivane Machavariani spoke about economic benefits and assistance at a briefing held after the meeting of the Interdepartmental Coordination Council of the Government of Georgia.

 

apsny.ge





Tags: