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Tag Archives: Nodar Khaduri

Georgia and Korea Sign Double Taxation Prevention Agreement

Georgia and Korea Sign Double Taxation Prevention Agreement

On March 31 Georgian Finance Minister Nodar Khaduri and Korean Republic vice Prime Minister YOO IL HO signed an agreement on Prevention of Double Taxation and Tax-payment Evasion. The parties also discussed economic cooperation enhancement issues and opportunities for attracting investments. Georgian Ambassador to Korean Republic Nikoloz Apkhazava also attended …

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IBRD to Allocate 80 Million to Georgia

IBRD to Allocate 80 Million to Georgia

International Bank for Reconstruction and Development (IBRD) will allocate 80 million to Georgia. Two agreements were signed on Monday. According to Ministry of Finance, “the World Bank will allocate financial resource of 40 million USD for funding the Innovative Ecosystem Project within the frame of the “National Innovation Ecosystem Project” and …

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Finance Ministry Made No Influence on GEL Exchange Rate Changes

Finance Ministry Made No Influence on GEL Exchange Rate Changes

 Georgian Finance Minister Nodar Khaduri has commented on strengthened GEL exchange rate and explained the tendency by changed situation on the regional level. The Finance Ministry has not made influence on either upturn or devaluation of the GEL exchange rate. “External factors have changed and regional economies, including oil exporter …

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Bank of America’s Merrill Lynch Studying Economic Environment of Georgia

Bank of America Merrill Lynch is Studding Current Environment in Georgia

Finance Minister Nodar Khaduri held a meeting with a representative of Bank of America Merrill Lynch. According to Ministry of Finance, Bank of America wants to study closely Georgia’s macroeconomic parameters, state budget’s performance indexes, as well as investment projects carried out with the support of foreign investors. Bank of America’s …

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Finance Minister Updates GSMEA Members with Latest Amendments on Tax Code

Finance Minister Meets with Members of Small and Medium Enterprisers Association

Georgian Finance Minister Nodar Khaduri has met with members of the Georgian Small and Medium Enterprisers Association (GSMEA). The Ministry of Finance of Georgia continues updating the business sector on the coming amendments to the Tax Code. The bill calls for reforming the profits tax and alleviating the tax administration. …

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Asian Development Bank Invests More Money in Georgia

Asian development Bank

Finance Minister Nodar Khaduri and Sean O’Sullivan, Director General of ADB’s Central and West Asia Department have discussed cooperation issues between Georgia and Asian Development Bank at the Ministry of Finance today. Minister of Finance expressed gratitude for the cooperation and financing the projects, which are being carried by the …

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Finance Minister: We Expect GEL Exchange Rate to See Serious Upturn

Nodar Khaduri

We expect the Georgian national currency will see serious upturn in the midterm period, Georgian Finance Minister Nodar Khaduri noted in his interview with the Rezonansi newspaper. The situation is getting stabilized in the neighboring countries and this factor will foster the GEL exchange rate enhancement, Khaduri said. „I would …

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Corporate Income Tax Reform Reduces tax Revenues

The Georgian Finance Ministry said that it will have to cut about GEL 400 million from 2016 state budget as planned corporate income tax reform will reduce tax revenues this year. According to the proposal, which the government says is based on the Estonian model, corporate income tax (a regular rate …

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Georgian Founded Asian Infrastructure Investment Bank Stars its Operation

Asian Infrastructure Investment Bank

Asian Infrastructure Investment bank has officially started its operational working activities. The inaugural meeting of the Asian Infrastructure Investment Bank’s Board of Directors, one of which is Georgian Finance Minister, was convened in Beijing on January 17, 2016. The Board of Directors is made up of 12 Directors, of which …

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Will The Bureaucratic Expenses Increase in The Coming Year?

Will the bureaucratic expenses increase in the coming year?

Will the bureaucratic expenses increase in the coming year? According to the MP Mikheil Machavariani, one of the reasons why the National Movement does not support 2016 draft budget is  a salary  increase in light of the government’s promise about belt-tightening. He says the 2016 budget increases  the costs for …

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Finance Minister: Compared to 2012, the Budget Increased by 25%

Finance MInister nodar_khaduri

Compared to 2012, the budget increased by 25%. Nodar Khaduri, the Minister of Finance, said at the government session. According to  him, the 2012 budget  amounted to  8 billion  while  the next year budget will be  GEL 10 billion 145 million. “Most importantly, the social costs are greatly increased. Social …

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