Minister of Finance Holds a Virtual Meeting with IMF Officials



H.E. Lasha Khutsishvili, Minister of Finance of Georgia held a virtual meeting with Enrico Aav, Technical Assistance (TA) Mission Chief of the International Monetary Fund (IMF) upon succeeding Kors Kool of the IMF.

A three-year project has been implemented for boosting the tax administration capacity and reforms at the Inland Revenue Service of the Ministry of Finance of Georgia with support of the IMF since 2017. Dignitaries once again stressed the significance of a successful completion of the referred program. Within the scope of a project implemented by the Inland Revenue Service of the Ministry of Finance of Georgia with support of the IMF in 2017-2020: a modern tax registration system has been introduced, compliance risk identification and management capacity has been improved, automated VAT refund system has been institutionalized to ensure a simplified and efficient refund of tax credits to taxpayers. At the same time, the effectiveness of the tax authority has been improved in a number of areas and directions.

It is worth noting that the IMF carried out a Tax Administration Diagnostic Assessment (TADAT) in 2020 with its methodology, according to which the Inland Revenue Service of the Ministry of Finance of Georgia has demonstrated significant improvements in 8 out of 14 core criteria compared to 2016.

At the same time, the virtual meeting touched upon the need for continued reforms, which are aimed at a further simplification of the tax administration process in the country.

H.E. Lasha Khutsishvili, Minister of Finance of Georgia wished every success to Enrico Aav, IMF Mission Chief in his new capacity. IMF official expressed hopes that cooperation with Georgian counterparts will be continued in a productive manner.

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