IFC launches new project in Georgia

Georgia, Tbilisi, Sept.18 / Trend N. Kirtskhalia /

International Finance Corporation, member of the World Bank in cooperation with the governments of Luxembourg and the Netherlands has launched a new consulting project in Georgia, which aims to help micro, small and medium enterprises in the process of tax reform.

This reform will help the Georgian companies to ease the tax burden and improve the activity, the Corporation told Trend.

Corporation's tax project in Georgia, which will focus specifically on the micro, small and medium-sized enterprises, aims to ease the tax burden by simplifying the tax system, improve the audit system, based on risk, more rational use of penalty provisions and simplification of the tax dispute.

"The Georgian Government is one of the reformers in the world, and we are pleased to offer him our support and experience to further improve the business environment in Georgia to conduct small-and medium-sized entrepreneurship," the International Finance Corporation spokesman in the Caucasus Thomas Lubeck said.

Georgia became the Corporation's member and shareholder in 1995. During this time, the Corporation invested $ 500 million within the 35 projects.