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Legislative Amendments Required to Maintain Taxation Advantage at FIZ

Legislative amendments should be adopted into the Law on Free Industrial Zones in the nearest period, Soso Nibladze, head of Kutaisi FIZ, told BusinessContract.

The mentioned law was adopted several years ago. Since then taxation system was reformed. Therefore, legislative amendments are necessary for ensuring competitive capacity, Soso Nibladze added.

“First of all, imports of Georgian raw materials or equipment should be exempted from 4% tax  at free industrial zones.

We should also consider the issue of reducing tax for imports of FIZ-manufactured products to Georgia with the aim to further incentivize production.

Otherwise, free industrial zones will lost tax advantage and this moment should be revised. We keep active communication with Government over the issue and we expect that the mentioned amendments will be adopted soon”, Nibladze said.