Georgian Prime Minister Irakli Kobakhidze said 145,000 individuals would have their tax debts totalling 590 million lari ($218.55mln) “completely written off”.
According to him, all private entities, including individual entrepreneurs, would have their recognised tax debts - incurred and unpaid before January 1, 2021 - fully written off once the bill was passed.
"In Georgia, there is quite a large number of individuals who have tax debts and [...] are deprived of the opportunity to conduct economic activities, therefore we decided to write off relevant debts," Kobakhidze said.
The PM added the decision had been made to enable the subject entities and individuals to “participate in the country's economic life”, and expressed his appreciation for the Ministry of Finance for preparing the bill.
