Gov’t writes off over $108mln in tax debt for 63,000 individuals

The Revenue Service of the Ministry of Finance of Georgia on Tuesday said a total of ₾301.75 million ($108.17mln) in tax debt was being written off for 63,000 individuals as part of the Government’s tax amnesty initiative. Photo: rs.ge

The Revenue Service of the Ministry of Finance of Georgia on Tuesday said a total of ₾301.75 million ($108.17mln) in tax debt was being written off for 63,000 individuals as part of the Government’s tax amnesty initiative.

The body added the write-off was ongoing both digitally – through dedicated software – and with in-person services.

The initiative encompasses all tax-paying individuals and businesses, and applies to recognised tax debts incurred and unpaid before January 1, 2021.

Georgian PM says tax debts totalling $218.55 mln to be “completely written off”
The decision aligns with the tax statute of limitations and aims to “ease the financial burden on the taxpayers and promote their participation in economic activities”, the Service said.

Source Link