2021-11-29
"As promised, we are proposing new regulations for gambling business today. They were designed and developed by the Minister of Finance" announced Irakli Garibashvili, Prime Minister of Georgia at the Executive Government Meeting today.
He explained the nature of regulations initiated by the Government of Georgia.
"It is intended to introduce a new mechanism of taxation for the online gambling business. Overall tax base of the sector will be increased by 65-70%. Second regulation will be set in terms of the age threshold; our citizens under 25 years will be banned from gambling. We have a detailed definition on who will be subject to this measure. These will be the socially vulnerable persons who are getting allowances from the state, civil servants, individuals requesting self-limitation from the Inland Revenue Service of Georgia and those captured in the so-called Black List on the grounds of Court Rulings, at the request of family members. Circle of people, who will fall under a restriction of access to gambling totals to almost 1 million adults. As for the control measures, we have all relevant mechanisms lined up as well. Third measure is to ban advertising of gambling. Any and all TV commercials on gambling, its outdoor advertising and web promotion through Georgian sites will be prohibited. Gambling business operators will be entitled to only conclude sponsorship agreements and this treatment may be primarily related to sports" noted the Prime Minister of Georgia.
At the same time and according to the Head of Government of Georgia, legislative amendments relating to the regulation of the pharmaceutical market will be submitted to the Parliament of Georgia in December 2021.
"As promised, we are actively working and the Minister of Health will be proposing regulations for the pharmaceutical market. Legislative initiative will be submitted to the Parliament of Georgia as a draft law. This is our desire and we are committed to intensively work with the legislature on this topic of course" added the Prime Minister of Georgia.
In addition, the Government has decided to launch a reform of the Partnership Fund. It will be restructured and applicable legislative amendments will be submitted to the Parliament of Georgia in December 2021.
The Prime Minister of Georgia once again commented on the high economic growth indicator at the Executive Government Meeting today. In his opinion, it is unprecedentedly high in the region and throughout Europe.
"Economic growth projections for October is upto 7%, which results in actual 10.5% for the first 10 months of the current year. It is truly unique and unprecedented growth in the entire region and beyond - throughout Europe" added the Prime Minister of Georgia.
At the same time, a Work Group led by Levan Davitashvili, Deputy Prime Minister of Georgia will visit several European countries in early-December and bring the best international practices from those nations of Europe, which have carried out the social policy reform.
"I believe that it will also be beneficial for our country and our citizens" concluded the Head of Government of Georgia.
Press Service of the Government Administration