Upon the initiative of the government, the turnover tax for small entrepreneurs will be reduced five times, in addition, the enterprise with a turnover of up to 500,000 GEL will be included in the category of the small entrepreneur, Prime Minister Giorgi Kvirikashvili said at today's Cabinet meeting.
According to Giorgi Kvirikashvili, the government starts the second wave of providing assistance for small business.
“We are setting up a new initiative. The initiative envisages introduction of a preferential tax regime for small entrepreneurs. In particular, we are reducing the turnover tax five times for small entrepreneurs from the previous 5 percent to 1 percent. In addition, if currently, the enterprise with turnover up to 100,000 GEL turnover is considered the small entrepreneur, the enterprise with turnover of up to 500,000 GEL will be included in this category [according to the new initiative],” – Kvirikashvili said.