The Georgian government paid attention to bank profits and returned the tax to 20%

2022/12/4565-1670309590.jpg
Read: 375     14:00     06 Декабрь 2022    

The Georgian government has decided to maintain the current system of income tax for banks and it will again be 20%, not 15%.

Only by the end of this year, the net profit of banks in Georgia will amount to 2 billion GEL, Prime Minister Irakli Garibashvili said at a government meeting.

The Prime minister said that the transition to the "Estonian model" of taxation for banks is canceled, and the government will appeal to parliament with this initiative.

Rating of Georgian banks by assets:
TBC Bank: 26 billion.
Bank of Georgia: 25 billion.
Liberty Bank: 3.5 billion.
Basis Bank: 2.9 billion.
Credo Bank: 2 billion.
Procredit Bank: 1.7 billion.
Terabank: 1.4 billion.
Cartu Bank: 1.4 billion.

This year VTB Bank stopped its operations in Georgia because of the international sanctions and its client base was exported to the Basis Bank and Liberty Bank portfolios.

But by the end of the year Georgia had 15 banks again: in November, the National Bank issued Paysera Georgia a commercial bank license and the first digital bank license. The bank will start serving customers in early 2023.

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The Georgian government paid attention to bank profits and returned the tax to 20%

2022/12/4565-1670309590.jpg
Read: 376     14:00     06 Декабрь 2022    

The Georgian government has decided to maintain the current system of income tax for banks and it will again be 20%, not 15%.

Only by the end of this year, the net profit of banks in Georgia will amount to 2 billion GEL, Prime Minister Irakli Garibashvili said at a government meeting.

The Prime minister said that the transition to the "Estonian model" of taxation for banks is canceled, and the government will appeal to parliament with this initiative.

Rating of Georgian banks by assets:
TBC Bank: 26 billion.
Bank of Georgia: 25 billion.
Liberty Bank: 3.5 billion.
Basis Bank: 2.9 billion.
Credo Bank: 2 billion.
Procredit Bank: 1.7 billion.
Terabank: 1.4 billion.
Cartu Bank: 1.4 billion.

This year VTB Bank stopped its operations in Georgia because of the international sanctions and its client base was exported to the Basis Bank and Liberty Bank portfolios.

But by the end of the year Georgia had 15 banks again: in November, the National Bank issued Paysera Georgia a commercial bank license and the first digital bank license. The bank will start serving customers in early 2023.

newsgeorgia.ge





Tags: