Cutting the Income Tax Sets Critical Preferences to Internet marketers: Irakli Lekvinadze

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New tax preferences regarding small business sector should come into force in July 1. The government’s initiative involves cutting the return tax for online business? 5 times. As a result, businesses with 500 1,000 GEL turnover will probably move to the category of small business.

Business Ombudsman Irakli Lekvinadze hails this unique initiative. These appropriate amendments will set vital preferences to business men, he said.

The initiative should come into force in July. I believe most of these amendments will bring vital preferences for business men, physical bodies, with manly engaged in investing. Technical part is additionally important? C if they were forced to carry out difficult technique of bookkeeping, now they are able to enjoy 1% taxation program and only fill out declarations. These changes will not refer to VAT. Providers with more than 100 A thousand GEL turnover will probably pay VAT anyway. Tastes will be applied to fault revenue or turn over tax, Lekvinadze noted.

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