Business Association of Georgia and EBRD agreed on important issues of developing businesses

14 Jan '14

Business Association of Georgia and the European Bank of Reconstruction and Development - EBRD agreed on important issues of developing businesses. Based on information of the Business Association, President of the Business Association of Georgia George Chirakadze and the Association leadership met with the Managing Director of EBRD Mr. Olivier Descamps.
During the meeting the parties discussed the prospects for developing businesses in our country and improving the business environment. It was unanimously agreed at the meeting, that in order to ensure further development of businesses, it is necessary to maintain stability and a predictable environment in the country, to have a declared economic vision and not to cease implementing initiatives directed to business development.
Meeting participants discussed the sections of the Economic Development Concept of Georgia, elaborated by the business Association of Georgia, which were related to the improvement of the taxation environment and allows for significant improvement of the business environment in a short period of time. These sections are the following: partial decriminalization of tax offences, reformation of the investigation Service of the Ministry of Finance, development of effective mechanisms for tax-related dispute resolutions, improvement of mechanisms for tax inspections, minimizing clauses in respective legislations that can be interpreted dually, etc.
During the meeting, the parties also underlined important issues for the improvement of the business environment, such as alternative mechanisms for dispute review and resolution - arbitration and mediation.
At the meeting, EBRD expressed its full support towards initiatives put forward by the Business Association of Georgia and underlined the fact, that implementation of these initiatives will be yet another important stage in the process of developing business environment in Georgia.