NEWS / Dimitry Kumsishvili Discussed Profit Tax Reform

First Vice Prime Minister of Georgia, the Minister of Economy and Sustainable Development Dimitry Kumsishvili, during his speech at the Tbilisi Belt & Road Forum, highlighted the taxation and fiscal reforms implemented by Georgia.

When talking about the profit tax, the First Vice Prime Minister said: “For the investors and business persons it means that they will have to pay taxes only after distributing dividends and if they have not distributed the dividends, they will not have to pay the tax.” Dimitry Kumsishvili noted that since this reform became affective, Georgian Government left additional 370 million GEL in the business. On the one hand, this was the facilitation of the business while on the other hand, it was the step forward the development of the indirect taxation. 

First Vice Prime Minister also noted that investments from the state budget are increasing as well. “For the investors it means that we are spending almost 40 billion on infrastructure thus creating new jobs and new opportunities,” – Dimitry Kumsishvili noted.