2018-02-21
Today Government meeting, held at the Administration of the Government and chaired by Georgian Prime Minister Giorgi Kvirikashvili, discussed 20 issues on its meeting agenda.
The Cabinet approved the Draft Law on Amending the Tax Code of Georgia which introduces concessional tax treatment with a view to promoting the development of the country's small entrepreneurship.
Enterprises with less than 500,000 GEL in revenues will be registered as small businesses, and direct taxes for small enterprises are being cut from 5 to 1%. Enterprises, recognized as small businesses and registered as VAT payers, will be able to claim VAT refunds via simplified procedures within 5-7 days. Small business will be obligated to use cash registers and invoices in legally prescribed cases. The current practice, which involves tax payment in advance, will be abolished, and small businesses will pay 1% turnover taxes at the end of each month.
A factory of medical products will be established in Tbilisi. On the order of the Government, state-owned immovable property was handed to Aptos LLC through direct sale. The factory will be built on 10,000 hectares of non-agricultural land adjacent to the Mechanical Plant, and 2,340,000 GEL will be invested.
On the order of the Government, under the Program for Rational Use of Hayfields and Pastures in Mountainous Areas, lease agreements will be signed with two cooperatives. The RK Stella and Khiza agricultural cooperatives, which bring together 134 local residents owning more than 500 heads of cattle, will lease over 2,000 hectares of hayfields and pastures in the Akhalkalaki and Aspindza Municipalities for 25 years.
The Cabinet also approved the Draft Law on Amending the Code of Administrative Offenses of Georgia to increase fines for misdemeanor disorderly conduct, from 100 GEL to 500-1,000 GEL.
Failure to obey orders or requests from law enforcement officers, service members, officers for the Special State Protection Service, enforcement Police officers, or Special Penitentiary Service officers, or persons equal in status to said officers, or any unlawful action against them, is liable to fining in the amount between 1,000 and 4,000 GEL, or administrative detention for up to 15 days, as opposed to presently prescribed fines between 250 and 2,000 GEL.