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Tuesday,
July 24,
2007, #139 (1406)
Head of the Finance Ministry’s Revenue Service Mindia Gadaevi, meeting with leaders in the business community, presented new initiatives to help businessmen and the taxmen see eye-to-eye. Foremost was the Revenue Service’s new Gold List for customs and trade partnership, which will include companies which have proven to be good VAT taxpayers. The criteria include paying over GEL 13 million in import duties, a clean taxpaying record, and at least two years of business interaction with customs bodies. Companies meeting those requirements will enjoy certain privileges based on the customs official’s confidence in businesses on the Gold List. Businessmen at the meeting questioned whether this would be fair for small and medium sized importers, which wouldn’t be doing enough trade to make it onto the list. Gadaevi explained that the list of trustworthy big businesses would free up Revenue Service employees to dedicate more attention to smaller companies, which would then receive better service from the state. A working group for initiative will discuss feedback from businesses. As president of the Agritechnics Group Fady Asly said, a detailed analysis of all conditions is necessary—otherwise a good idea, which should be welcomed, could turn disastrous. Finance Ministry representatives agreed with that approach. Apart from the Gold List, Gadaevi highlighted a number of planned improvements in the customs service. The Revenue Service boss named price corrections, consolation of transfer, discussion of risk modules, combating counterfeit products, VAT returns and various technical issues as targets for reform. When the changes go through, businesses should be able complete all the paperwork online within five hours. Now, it takes an average of 74 hours from arrival of the goods in Georgia to jump through the required hoops. BP boss in Georgia Hugh McDowell said he was satisfied with the Finance Ministry projects. Most of the present businessmen agreed that any initiatives to make doing business easier should be welcomed, as they’ll eventually make Georgia more attractive for investments both foreign and local. |
Finance Ministry’s New ‘Gold List’
