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IFC and Georgia Revenue Service Help to Simplify Tax Code for Small Businesses

By Messenger Staff
Monday, May 28
The IFC, a member of the World Bank Group, trained employees of Revenue Service of Georgia to provide more efficient services to small and medium enterprises, thereby reducing compliance costs for businesses.

Over the last two-weeks, the IFC Georgia Tax Simplification Project and the Georgia Revenue Service, hosted a series of training courses for Georgia Revenue Service Center employees, as well as district officers in western Georgia. The seminars focused on the responsibilities of district officers who assist businesses to comply with legislative requirements.

Thomas Lubeck, IFC Regional Head for the Caucasus, said, “Simplified procedures help businesses save time and financial resources. We support the Georgia Revenue Service in equipping their staff with the knowledge and tools they need to provide high-quality consultations and services for entrepreneurs.”

The IFC Georgia Tax Simplification Project is supported with funds from the governments of Austria and Luxembourg, and the Ministry of Foreign Affairs of the Netherlands.

Georgia has been a member of the IFC since 1995. IFC’s cumulative investments in the country to date total $605 million spanning 40 projects across various sectors. IFC Advisory Service projects in Georgia focus on reforming the tax system to benefit small businesses, to help raise food safety standards, and to help strengthen the risk-management practices of banks.