The Faction introduced the Bill envisaging reduction of the VAT.

According to R. Gotsiridze, today every legal entity or natural person with income of less than 100 000 GEL does not pay VAT, and the Bill by the Faction envisages increase of the limit to 165 000 GEL.

“This remission applying to the natural persons and sole entrepreneurs was established 15 years ago. During this period of time, much has been changed – the prices have been doubled, GEL rate decreased with 65% and thus, we consider it necessary to restore the status quo. It will serve a significant preference for the people leasing the apartments or other real estate”.

The effective date of the Bill is defined as January 1, 2020 which cannot affect the current budget.