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Georgian Firms Contributing To CIT Overhaul Plans

On January 30, 2016, Georgia's Ministry of Finance met with business organizations to discuss its plans to reform the country's corporate income tax (CIT) regime.

Earlier the Government had announced that it was seeking to introduce a corporate tax regime similar to Estonia's, with support from experts from that country. Estonia's tax regime features a broad base and a low, flat 20 percent rate.

At the meeting, representatives from the government and businesses discussed the potential impact of the changes, focusing on technical and administrative issues.

The meeting follows a commitment from Finance Minister Nodar Khaduri that the Government will engage with the private sector. He had previously noted that "it is vital to consider [the] proposals and suggestions of businesses in the most comprehensive manner during the preparation for the draft law related to the initiative."

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