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Daily News

October 22, 2020

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politics

    GEORGIA AND JAPAN AGREED TEXT OF CONVENTION ON DOUBLE TAXATION AVOIDANCE

    Georgian Finance Ministry reported today about accomplishment of negotiations with Japan, which ended in agreement on renewed text of the convention on double taxation avoidance and suppression of tax dodging and evasion.

    According to the Ministry, the convention is based on the model of Organization for Economic Cooperation and Development (OECD), updated in 2017, and envisages standards, established by the project on base erosion and profit shifting (BEPS).


    “GEORGIAN AIRPORTS ASSOCIATION” JOINED AVIATION INDUSTRY CHARTER FOR COVID-19

    Georgian Airports Association declared about join to Aviation Industry Charter for COVID-19 of the EU Aviation Safety Agency (EASA).

    As the Association noted, within the Charter, EASA released additional operational guidelines for the industry, aiming increase safety of passengers’ travels.


economics

    IN SEPTEMBER, PPI OF ACCOMMODATION AND FOOD SERVICES INCREASED BY 2.8% Y-O-Y, WHILE OF TRANSPORT AND WAREHOUSING – DECREASED BY 5.5%

    Sakstat reported that in September, producer price index (PPI) of accommodation and food services increased by 2.8% year-on-year. Month-on-month growth (i.e. in comparison with August) made up 0.3%.


    9-MONTH PLAN OF THE STATE BUDGET’S REVENUES FULFILLED BY 106.7%

    Georgian State Treasury reported that revenues of the country’s state budget amounted in January-September to 7.64 billion lari. That corresponds to 106.7% of volume, expected in 9 months, the Treasury noted.


    9-MONTH PLAN OF THE STATE BUDGET’S PAYMENTS FULFILLED BY 93.8%

    Georgian State Treasury reported that factual payments of the country’s state budget amounted in January-September to 11.2 billion lari. That corresponds to 93.8% of volume, planned for 9 months, the Treasury noted.


    IN 9 MONTHS, DOMESTIC TRANSACTIONS WITH CARDS OF RESIDENT ISSUERS INCREASED BY 19% Y-O-Y

    National Bank of Georgia reported that transactions, made with cards of resident issuers within the country, totaled in 9 months of this year to 22.7 billion lari. If compared with the same period of 2019, the volume has increased by 19%.


    IN 9 MONTHS, FOREIGN TRANSACTIONS WITH CARDS OF RESIDENT ISSUERS REDUCED BY 9.8% Y-O-Y

    National Bank of Georgia reported that transactions, made with cards of resident issuers outside the country, totaled in 9 months of this year to 1.5 billion lari. If compared with the same period of 2019, the volume has decreased by 9.8%.


    IN Q3, ONLINE TRANSACTIONS INCREASED BY 49.3% Q-O-Q AND BY 33.5% Y-O-Y

    National Bank of Georgia reported that online transaction, made in Georgia in the 3rd quarter, totaled to 1.1 billion lari. The volume has increased by 49.3% quarter-on-quarter and by 33.5% year-on-year.


    THE GOVERNMENT APPROVED PLAN OF ATMOSPHERIC AIR QUALITY IMPROVEMENT IN RUSTAVI

    Georgian Ministry of Environmental Protection and Agriculture reported about approval by the country’s government of plan of improvement of atmospheric air quality in the city of Rustavi. As the Ministry noted, the plan envisages regulation on industrial emissions.


    NBG: EMISSION OF COLLECTABLE COINS, DEDICATED TO DAVID AGMASHENEBELI AND TAMAR MEPE, IS PLANNED NEXT YEAR

    National Bank of Georgia (NBG) announced emission of collectable coins, dedicated to Georgian kings, David Agmashenebeli and Tamar Mepe, in 2021.

    For selection of design of these coins, competition is announced, applications for which are accepted until October 21.


business

    IN 2019, NET PROFIT OF “GEORGIAN AIRPORTS ASSOCIATION” INCREASED 109 TIMES

    LLC Georgian Airports Association reported net profit of 2.07 million lari for 2019. According to audited report of this state-owned company, the volume has increased 109 times year-on-year.


    IN 2019, NET PROFIT OF “SAKAERONAVIGATSIA” REDUCED 6.2 TIMES

    LLC Sakaeronavigatsia (Georgian Air Navigation) reported net profit of 2.78 million lari for 2019. According to audited report of this state-owned company, the volume has decreased 6.2 times year-on-year.


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