Income Above GEL 2,500 May Be Taxed 30%

Georgia’s parliamentary majority announced that a tax increase of 30% may be initiated for people to earn above 2,500GEL per month; in stark contrast with income cuts being pushed by the Prime Minister, according to bfm.ge. In an effort to stimulate the economy, Gia Zhorzholiani, member of the parliamentary majority, said tax rises will bring an additional half a million GEL, boosting economic growth.

According to Imedinews.ge, the Prime Minister has responded to the initiative, stating that the vision of the government is not the growth of taxes, but the opposite. “We presented our vision in the Parliament 3 weeks ago. The majority of our initiatives imply tax cuts, as this is our vision of how to develop the economy”, said Mamuka Bakhtadze.