RESULTS AND PROSPECTS OF THE REFORMING OF TAX SYSTEM IN GEORGIA IN ACCORDANCE WITH EU REQUIREMENTS
Taxes are the main source of formation of the state budget of Georgia. 90% of the total amount accumulated in the country's budget is due to taxes. Value Added Tax (VAT) is approximately 45% of the tax structure, that is, up to 30% of income, up to 10% of income tax, and the rest is excise, imp...
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Published in | MODELING THE DEVELOPMENT OF THE ECONOMIC SYSTEMS no. 4; pp. 215 - 218 |
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Main Authors | , |
Format | Journal Article |
Language | English |
Published |
29.12.2022
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Online Access | Get full text |
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Summary: | Taxes are the main source of formation of the state budget of Georgia. 90% of the total amount accumulated in the country's budget is due to taxes. Value Added Tax (VAT) is approximately 45% of the tax structure, that is, up to 30% of income, up to 10% of income tax, and the rest is excise, import and customs duties. Taking into account the role and importance of taxes in the dynamic and stable development of the country, the article presents the opinions of the authors on the reforms of the Georgian tax system and the main directions for improving tax administration. The essence of the changes made to the tax legislation of Georgia was studied, analyzed and evaluated on the basis of empirical data; the possibility of mobilizing funds in the country's budget through the maximum harmonization of the tax system of Georgia with the best practices of the European Union was argued in this article. The authors develop the next point of view: the tax system of Georgia and its regulation are gradually approaching the European model, although certain norms of tax administration still need to be finalized. Also a full harmonization with the EU tax system is needed. |
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ISSN: | 2786-5355 2786-5363 |
DOI: | 10.31891/mdes/2022-6-29 |