FORBES GEORGIA: “AMENDMENTS TO THE CODE REGARDING TAXATION OF LIQUEFIED GAS BROUGHT THE BUDGET A 300% INCREASE OF REVENUES IN SIX MONTHS”

Georgian Business Association indicates that amendments to taxation of liquefied gas have subjected so-called excise-free commodity code, used for import of oil-products for years, to taxation as well, and one-stage taxation with 300 lari is activated.

“As a result, within 6 months from the date of activation of the legislative amendments, the state budget received by 300% more revenues than it was expected”, says Shavleg Mishveladze, head of the Association’s committee on oil, oil-products and gas.