Cabinet Discusses Proposal over Financial Amnesty

The Finance Ministry submitted to the cabinet on March 4 draft law, which would free from any responsibility those businessmen, which would agree to pay previously hidden taxes.

The draft is discussed at the cabinet?s session on March 5.

?If a businessman unveils the total sum of taxes, which was evaded, he will enjoy certain privileges. For example, a date of submitting a tax declaration may be postponed for three, four months [instead of earlier date ? April 1],? Nodar Khaduri, the Deputy Finance Minister said.

According to the proposal businessmen, who would agree to repay taxes, will be able to pay 10% of total debt initially. The rest of the sum will be rescheduled for several years, depending on amount of debt.

In February President Saakashvili offered businessmen an amnesty in return for better tax discipline. He said that no criminal charges would be brought against those businessmen, who ?legalized their businesses.?