New tax preferences regarding small business sector may come into force on July 1. The government’s initiative needs cutting the earnings tax for small company? 5 times. As a result, companies with 500 Thousand GEL turnover may move to the category connected with small business.
Economic experts own approved the outlined initiatives. Expert Levan Kalandadze hails the initiative, although suggests the Government in order to lift the Value-added tax top margin for higher effectiveness.
I suppose that VAT top border will be 100 000 GEL again. This kind of signifies small business owners with more than 100 500 GEL will pay VAT anyway. To make this model more ideal and efficient, your Authorities should not only expand the radius of companies when using the small business status, but additionally to raise VAT best margin to 400 000 GEL. Consequently, small entrepreneurs with about 500 000 GEL turnover will enjoy precisely the same preferences as enterprises with about 100 500 GEL turnover, Levan Kalandadze said.