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Thursday, 27 October 2016


Technical Losses Commission to be set up in Georgia

2011-04-14 15:36

The intention to establish a Technical Losses Commission was recently stated by Georgian PR Nika Gilauri during a meeting with representatives of the country's private sector. According to Gilauri, the commission will define the amount of technical losses in private sector. He underlined that the companies could not use technical losses in sales, though often regarded them in realization. Technical loss record will reduce the companies' tax burden, Business Georgia remarks.

"Companies will have an opportunity to apply to us and ask for defining their technical loss for a certain fee. When the company is checked by Revenue Service, the latter will consider the technical loss and charge fewer tax", - Gilauri underlined. Besides, according to the government's new initiative, the cost of fuel that was not used in the economic activity will be written off from the companies.

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