BAKU, Azerbaijan, Feb. 24
By Tamilla Mammadova – Trend:
Temporary import of goods in Georgia will not be subject to VAT, Trend reports with reference to Georgian media.
As reported, the Government of Georgia has prepared amendments to the Tax Code. The amendments relate to all regulatory provisions of VAT; as a result, Section VI of the code was formed in a new edition.
In accordance with these amendments, the basic principle of object taxation has been retained, and the import of goods, as well as the delivery of goods / services to Georgia by a taxable person as part of its economic activities, are considered by taxable operations.
According to the government, the temporary import of goods into Georgia will no longer be considered a taxable operation.
The package of amendments will be initiated at a meeting of the Bureau of the Parliament of Georgia.
As a reason for making these changes to the Tax Code, the Georgian government cites the fulfillment of its obligations under the Association Agreement with the European Union.
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