"As of today, there are no delays whatsoever in budget execution—in fact, it has been overfulfilled. Any attempt to portray the budget as problematic is nothing but disinformation and a deliberate attempt to mislead the public," said Giorgi Kakauridze, First Deputy Minister of Finance, in reference to the implementation of the state budget for the first quarter of the current year.
According to him, absurd claims have been made suggesting that the Revenue Service of the Ministry of Finance is asking companies to pay taxes in advance.
"We have heard absurd statements suggesting that the Revenue Service is asking companies to pay taxes in advance, which is, of course, nonsense. Such a thing is not possible. What can be said regarding the performance under the 'Other Taxes' category is that when companies pay income tax alongside wages, it is initially recorded under 'Other Taxes' and then appears under income tax on the 15th of the following month. All companies are well aware of this, so I believe these kinds of statements serve no purpose other than intentional disinformation.
As for overall tax shortfalls—realistically, the only shortfall is in excise tax, and that, of course, has a clear explanation. This year, new regulations on tobacco came into effect, which affected the volume of tobacco imports compared to the first quarter of previous years. Additionally, companies had certain stockpiles. Therefore, this shortfall in excise tax will be fully addressed in the coming months and quarters," said Giorgi Kakauridze, Deputy Minister of Finance.
This information was released by the Ministry of Finance’s press service.
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