Draft over Tax Amnesty Finalized

The cabinet session on October 27 finalized a draft law that envisages amnesty for those businessmen who evaded paying taxes before January 1, 2004 as well as the legalization of undeclared property.

President Mikheil Saakashvili, who was attending the session, called on parliamentarians to discuss and approve the proposal as soon as possible. 
 
The draft law will not apply to those persons who already face criminal charges for tax evasion.
 
“Each citizen of Georgia, as well as foreigners, will have a chance to legalize their property or finances in Georgia and make investments to further develop their business,” Prime Minister Zurab Zhvania said at the cabinet session.
 
“By declaring tax amnesty and adopting a new tax code, we will lay the foundation for a new, business-friendly policy in Georgia,” he added.