In order to overcome challenges caused by the coronavirus pandemic, Georgian Finance Minister Lasha Khutsishvili has introduced new tax initiatives on 17th May 2021.
"The taxpayer, who has a current recognised / unrecognised tax debt, will be able to fully reduce the accrued fines / penalties by paying the principal amount of the tax", said Khutsishvili.
He said that taxpayers must apply to the Revenue Service of Georgia before August 1 of this year with a request to conclude a tax agreement and pay the principal amount of the tax by December 31, 2021.
"This initiative concerns the tax arrears of all taxpayers (including debts in tax disputes), except in cases where there is an ongoing criminal case against this taxpayer for an economic crime under the Criminal Code", Khutsishvili said.
Khutsishvili said that this is a one-time initiative and is related to overcoming the difficulties caused by the pandemic for taxpayers.
Taxpayers will be able to apply to the Revenue Service of Georgia starting May 18.