BAKU, Azerbaijan, Feb. 6
By Tamilla Mammadova – Trend:
Buildings, construction of which began before 2008 and which are still not completed, may be exempted from paying value added tax until 2026, said Georgian Prime Minister Giorgi Gakharia, Trend reports referring to Georgian media.
He made the remark at a government meeting on Feb.6, 2020.
As reported, the goal of this is to help complete the construction of unfinished buildings.
“As you know, in 2015, the Georgian government decided to support construction in progress, which was launched before 2008. Today we decided to extend the measure until 2026. There are a lot of such projects, so we decided to extend our support until 2026,” Gakharia said.
In 2019, 10,749 permissions were issued in Georgia for construction of buildings of 7.55 million square meters (21.7 percent more compared to 2018).
As reported, 71.1 percent of the total number of permissions were issued in three regions of the country: 48.8 percent - for the construction works in Tbilisi; 11.7 percent - for construction in Adjara region, and 10.6 percent - in Kvemo Kartli region.
In 2019 permissions were issued for the construction of multifunctional residential complexes, hotels, trade facilities, industrial enterprises, agricultural objects and other buildings.
The multifunctional residential complexes hold the relatively large share of the permissions granted.
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