Georgian PM: 145,000 citizens to benefit from debt relief

Prime Minister Irakli Kobakhidze announced on Monday all natural persons, including individual entrepreneurs, will have their recognized and unpaid tax debts accumulated before January 1, 2021 written off. 

He claimed the decision came as a response to the challenges faced by a significant number of individuals in Georgia who the official asserted had been hindered from fully engaging in economic activities due to outstanding tax liabilities.

Expressing gratitude to the Ministry of Finance for their “pivotal role” in drafting the proposal, Kobakhidze emphasized the importance of this measure in fostering economic growth and inclusivity.

 

He noted that the tax amnesty will provide relief to approximately 145,000 citizens, with a total of 590 million GEL in tax debts being fully forgiven.

“This decision underscores our commitment to supporting our citizens and revitalizing our economy,” stated Kobakhidze. “By granting this tax relief, we are empowering individuals to actively participate in our economic life, thus driving forward our collective prosperity.”

The decision comes ahead of the October general elections in the country.