“Strong Georgia - Lelo” demands changes to the Tax Code, including the emergence of the VAT payment obligation at a turnover of 500,000 GEL instead of 100,000 GEL and raising the property tax payment threshold to 100,000 GEL
“Strong Georgia - Lelo” demands that the VAT payment obligation arise at a turnover of 500,000 GEL instead of 100,000 GEL. This change will not bring a significant loss to the budget, but will be the greatest stimulus for small and medium businesses.
“Strong Georgia - Lelo” demands that the VAT payment obligation arise at a turnover of 500,000 GEL instead of 100,000 GEL. This change will not bring a significant loss to the budget, but will be the greatest stimulus for small and medium businesses - this was stated by Tornike Artkmeladze, a member of the Political Council of the “Strong Georgia - Lelo” party, at a briefing held today.
According to him, it would be much more rational to raise the property tax payment threshold from 40,000 GEL to 100,000 GEL.
“A fundamental reform of the Tax Code is necessary in Georgia, which will leave much more income to citizens and less money for the high-ranking officials of the Dream to steal from the budget.
First of all, ‘Strong Georgia - Lelo’ demands that the VAT payment obligation arise at a turnover of 500,000 GEL instead of 100,000 GEL. This change will not bring a significant loss to the budget, but will be the greatest stimulus for small and medium businesses. The second biggest problem in Georgia’s Tax Code is the 40,000 GEL threshold for property tax, which was also set more than 20 years ago, after which, due to the high rate of inflation, 40,000 GEL is not at all the threshold for a family that could create an obligation to pay property tax.
It would be much more rational to raise the property tax payment threshold from 40,000 GEL to 100,000 GEL.
The tax thresholds set in 2005 remain unchanged to this day, despite the fact that during this period the country has gone through many economic challenges, inflation has catastrophically increased, prices and the purchasing power of money have changed. However, the state continues to tax citizens and small businesses according to criteria set 20 years ago.
The ‘Georgian Dream’ is trying as much as possible to take millions of GEL out of citizens’ pockets, which is then spent on corrupt schemes and enriches the high-ranking officials of the Dream. Georgia’s tax policy is outdated and cannot respond to the challenges of either small and medium businesses or the citizens of Georgia,” Tornike Artkmeladze stated.
