2020-03-06
✅ Government Resolution on Development of Pharmaceutical Production in Georgia:
► Status of Pharmaceutical Production has been granted to the first 6 enterprises. Eligible companies will benefit of tax incentives on VAT and namely value added tax will be waived on the supply of pharmaceutical goods produced in Georgia with a right of offset;
✅ Referred decision will make producers gain additional resources and will stimulate production of pharmaceuticals in Georgia, thereby creating jobs and equal conditions of competition with imported goods.
✅ It is worth noting that pharmaceutical industry is transiting to an internationally recognized standard of Good Manufacturing Practice (GMP) from January 2, 2022.
✅ Authorities of Georgia prioritize the facilitation of domestic production and a number of initiatives have been carried out towards this end, including a scheme of tax incentives.