The Ministry of Finance continues implementing friendly tax / customs policies for business development, which, together with economic reforms, envisages harmonization of the legislation with EU standards.
From 2019, Georgia will have European legislation in the customs field of Georgia.
The Ministry of Finance has completed working on the draft of Customs code which fully responds to EU standards, which will be an important stimulus to attract investments from the European Union and promote Georgian business integration into the EU market.
At these moments, at the Economic Clearance Zone the Minister of Finance of Georgia Ivane Matchavariani will inform the business sector representatives about the news envisaged by the draft of new customs code.
As a result of convergence with EU legislation, customs procedures between Georgia and the European Union will be simplified, the expenses of private sector related to foreign trade will be reduced, for Georgia and EU business representatives, simple and fair rules of the environment of the same customs regulation will be created.
The draft law envisages important innovations in the direction of simplification of customs procedures:
New rules of simple clearance and forms of declaration are introduced;
The Possibility to return the tax of the paid import is being created;
When taking a custom decision, the interests of the entrepreneur will be considered maximally;
Considering the business, it will be possible to use a new type of guarantee (guarantor);
An important precondition is being created, in order the business to be able to use the simplified customs procedures in the EU and other countries;
In addition, in the customs legislation all positive changes will be maintained, which was implemented a result of the reforms in the direction of unified / simplified administration of tax and customs liabilities, among them are: a unified tax card of a taxpayer (tax and customs), mutual counting off existing excess in “space” and “boundaries”, unified Treasury Code to perform tax / customs obligations, unified system of appeal and tax agreement.
After enacting the customs code, Georgia will be the first country in the region, which along with modern customs infrastructure, even by the the new customs legislation will fully respond to the requirements set by the European standards and will contribute significantly to the development of international trade.
Within the framework of the announced policy of the Ministry of Finance, public discussions will be initiated with participation of business sector, experts, all interested and target groups.