The member of the Political Group “Girchi”, Hermann Szabo held a briefing to introduce a new legal initiative of the Group envisaging changes to the Tax Code. The Draft changes the property tax applying the persons with an annual income of 40-100 thousand GEL and over.

“The Code is adopted in 2010 when the GEL rate was different. Since, the GEL has been significantly devaluated, we encounter two-digit inflation and the Code taxes already impovered population. The Draft developed by us annuls the taxation of persons with an annual income of up to 70000 GEL. The tax shall vary between 0.05%-0,2% of the property value for the persons with the annual income of 70-175 thousand GEL, and 0,8%-1% for the person the annual income of which exceeds 175 000 GEL”.

The Draft will be initiated at the Bureau