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Government of Georgia returns VAT to businessmen2009-11-11 15:40
The government of Georgia continues stimulation of the national economy and therefore proposes new initiatives to businesspeople.gt-en-newsitem-inside
One of them was presented by President Mikheil Saakashvili at today's guest sitting of the government in Kakheti.
According to the President's information, one of the mechanisms to stimulate the economy is the return of VAT to businessmen, to let it be spent on further development and expansion if industry and investment in economy.
The Georgian leader said that in the course of the 10 months of 2009 over GEL 120 mln [USD 75 mln] were returned from the VAT they paid. Over GEL 35 mln [over USD 21 mln] more are planned to be allocated for this purpose.
"Together with the Prime Minister we decided pour 35 mln lari more into this engine of economy. Actually we suppose that the sum of VAT returned to companies this year will exceed 170 mln lari", Saakashvili said.