Second working meeting held on issue of taxation of production losses

11 Feb '20

Another meeting was held between the Business Association of Georgia (BAG) and the Revenue Service on the issue of taxation of production losses.

Purpose of the meeting was to discuss the issues related to natural losses of products and quality change in retail sales outlets operating on the so-called "open storage principle". In particular, participants of the meeting discussed joint proposals developed and reconciled in the format of the working group that directly concerned the object and scope of the regulation, as well as the amount of loss and principles for its measurement.

“At the meeting, we jointly discussed our proposals to address the issue of losses and presented them to representatives of the Revenue Service. They promised that after careful consideration of the proposals in the format of Revenue Service Commission on Loss, consultations and discussions on the issue would continue until the matter was finally resolved,” said the executive director of BAG, Levan Vepkhvadze.