Legislative amendments should be implemented into the Law for Free Industrial Regions in the nearest phase, Soso Nibladze, head of Kutaisi FIZ, explained to BusinessContract.
The mentioned law applied several years ago. Since then tax system was cool. Therefore, legislative amendments are necessary for being sure competitive capacity, Soso Nibladze added.
“First of all, imports of Georgian raw materials or equipment should be exempted from 4% income tax? at free industrial zones.
We should also go through the issue of reducing tax for imports of FIZ-manufactured products to Georgia with the aim to more incentivize production.
Otherwise, free conventional zones will displaced tax advantage which moment should be changed. We keep busy communication with Federal government over the issue and then we expect that the pointed out amendments will be followed soon”, Nibladze said.