BAKU, Azerbaijan, Nov. 13
By Tamilla Mammadova – Trend:
Wages up to 750 lari ($228.31) in the private sector were exempt from income tax for 6 months from May 1, 2020, in Georgia, Trend reports via the Revenue Service.
As for the wages up to 1,500 lari ($456.62), the first 750 lari ($228.31) will exempt from income tax. This change has saved employers a maximum of 150 lari ($45.66) per month on employees’ salaries.
The program ended in October.
According to the revenue service, the program covered an average of 30,600 businesses and 400,000 employees per month.
May 2020 - 24,350 companies; 366,331 employees;
June 2020 - 30,220 companies; 403,887 employees;
July 2020 - 32,628 companies; 421,282 employees;
August 2020 - 33,030 companies; 419,717 employees;
September 2020 - 33,224 companies; 426,362 employees.
In total, an income tax of 222.12 million lari ($67.6 million) was left as a benefit to private businesses under the program.
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