The Parliament discussed for the I reading the Draft Tax Code and approved it with 82 votes.

According to one of the initiators, the Chair of the Budget and Finance Committee, Paata Kvizhinadze, the Draft envisages the write-off of the tax indebtedness of the natural persons accrued before January 1, 2021, and respective surcharges.

The Draft stipulates that the delegation of the property rights on all assets of the foreign enterprise registered in a tax haven country (including shares/stocks) to the Georgian enterprise, which shall be ensured as of January 1, 2028, shall be exempted from the profit, income and property taxes; besides, the import of the assets/goods to Georgia within the hereof transactions shall be exempted from import taxes, and the Georgian enterprise shall be exempted from the property taxes in regard to the assets gained within the transactions as of January 1, 2030.

The Draft is submitted for expedited consideration.