Regular Session of the BAG Committee for Tax and Customs

26 Mar '10

On March 26 second regular session of the BAG Committee for Tax and Customs was held. The agenda of the meeting was drawn up based on the issues initiated by the Committee member companies.

The issues of deduction of prepayment penalty, avoidance of double taxation in rendering warranty service, the deadlines for submission of an appeal to the appeals board, property tax etc. were reviewed at the session.

In addition the drafts of changes to Articles 23, 143, 238, 247 and 273 of the Tax Code and to the Law of Georgia on Use of Natural Resources were presented.

As decided by the Committee, the issues reviewed will be submitted to the MoF for further consultations and for development into the draft-laws.

JSC TBC Bank and company TBC Leasing presented at the session number of comments on the Tax Code relevant for the banking sector and leasing companies and their discussion was planned in the nearest future by the interested banks and companies.