BAG spoke to the IMF Assessment Mission about the need for further business support

15 Oct '20

Further extension of tax benefits for business operators operating in Georgia and state business support in the wake of the second wave of the pandemic was the key issue of the remote meeting between the executive team of the  Busines Association of Georgia and the IMF assessment mission.

At the meeting, the Executive Director of the BAG, Levan Vepkhvadze, focused on the problems and additional pressure that the member companies of the Association are experiencing as a result of the sharp increase in the number of infected.

They also talked about the difficult war situation in the Caucasus region and the problem of rapid recovery of the tourism sector against this background. Accordingly, on behalf of the Association, Levan Vepkhvadze informed the Head of Mission, Mercedes Vera-Martin, about the minimum additional measures that the Association believes are necessary to be implemented by the Georgian authorities, including the extension of income tax for business operators for another 6 months and to solve the problem of deferred / accumulated budget liabilities in the hospitality sector.

During the meeting, the Executive Director of the Business Association also reaffirmed the Association's readiness to work actively with the executive and legislative authorities of Georgia while working on the second package of business support in an established dialogue format.

As it is known, due to the global pandemic of COVID-19, the 7th assessment mission of the International Monetary Fund is working in a virtual mode and will extend the meetings with the members of the Government of Georgia and the interested parties in the mentioned format.