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Assisting the Government of Tajikistan to Strengthen Strategic Planning

31-Aug-2018

Assisting the Government of Tajikistan to Strengthen Strategic Planning

We are collaborating with the Government of Tajikistan to strengthen its strategic planning and policy coordination and to ensure better integration of its strategic decisions and current policies. Overall, the project aims to improve budget planning and execution, trea...

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All Set to Become USAID Prime Contractor

29-Aug-2018

All Set to Become USAID Prime Contractor

On August 13-14, we hosted Mr. Gary V. Kinney, Vice President at Kinney Advisory Services and former Senior Contracts Officer at USAID, to deliver a training course for our team members entitled “Doing Business with USAID.” As part of the two-day training, Mr. Kinney sh...

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Value Chain Analyses of Broccoli, Mandarins and Raspberries in the Regions of Georgia and their Potential on the EU Market

24-Aug-2018

Value Chain Analyses of Broccoli, Mandarins and Raspberries in the Regions of Georgia and their Potential on the EU Market

PMC Research recently finished working on value chain analyses of three agricultural products in three specific regions, namely broccoli in Kvemo Kartli region, mandarins in Adjara region, and raspberries in Mtskheta-Mtianeti region. The main goals of these studies...

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“The Georgian Example” – USAID Video about how Membership of Open Government Partnership Facilitated Significant Development

21-Aug-2018

“The Georgian Example” – USAID Video about how Membership of Open Government Partnership Facilitated Significant Development

On July 17-19, as a lead co-chair of the Open Government Partnership (OGP), Georgia hosted the 5th OGP Global Summit in Tbilisi.The event gathered high-level representatives of the public sector, civil society, private sector, parliament, academia, researchers, and jour...

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Analyzing the Impact of the Belt and Road Initiative (BRI) in the South Caucasus

17-Aug-2018

Analyzing the Impact of the Belt and Road Initiative (BRI) in the South Caucasus

At the beginning of August, PMC Research started working on a Country Note on the Belt and Road Initiative (BRI) in the South Caucasus (Georgia, Armenia, and Azerbaijan) in order to study its impact on Central Asia and the South Caucasus (CASC). The main goal of the pr...

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The Role of Civil Society Organizations in the Implementation of the DCFTA

03-Aug-2018

The Role of Civil Society Organizations in the Implementation of the DCFTA

On July 25, Ms. Mariam Saghareishvili, Researcher at PMCG, participated in a working meeting about the DCFTA and the role of civil society organizations (CSOs) in its implementation. The working meeting aimed to inform CSOs about the possibilities and requirements of t...

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PMC Research Awarded Again for its Transparency

24-Jul-2018

PMC Research Awarded Again for its Transparency

PMCG is excited and proud to announce that PMC Research was recently given a 5-star rating for transparency by international organization Transparify.  Such an award is the highest possible rating issued by Transparify, and reflects exemplary transparency in PMC R...

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New Simplified Financial Reporting Standard for MSMEs

05-Jul-2018

New Simplified Financial Reporting Standard for MSMEs

On June 26, the newly simplified Financial Reporting Standard for Category IV-Entities was adopted with the goal to improve the quality and transparency of corporate financial statements, according to the decree of the Head of Service for Accounting, Reporting and Audit...

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Discussing How to Fight Corruption in Armenia

04-Jul-2018

Discussing How to Fight Corruption in Armenia

On June 29, Mr. David Lezhava, Public Policy Sector Director at PMCG, participated in a conference entitled “The anti-corruption policies and measures”, which was co-hosted by the Embassy of the Republic of Bulgaria and the EU Delegation to Armenia. Mr. Lezhava’s presen...

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Study to Identify Challenges for SMEs Seeking Access to Finance

02-Jul-2018

Study to Identify Challenges for SMEs Seeking Access to Finance

PMC Research recently launched a new project entitled “Leveraging SME Finance through Value Chains in Georgia”, designed to study the challenges facing SMEs with a particular focus on access to finance in Georgia.On June 21, Goga Khishtovani, Director at PMC Research, p...

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PUBLICATIONS

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Issue 106: Foreign Direct Investment, January-June 2018

18-Sep-2018

Issue 106: Foreign Direct Investment, January-June 2018

Analysis of the preliminary data on FDI for the first half of 2018 revealed the following general findings: The financial, energy, and construction sectors attracted the most FDI; Azerbaijan, the United Kingdom, and the Netherlands were the largest investing countries for Geo...

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Issue 105: External Trade, January-June 2018

03-Aug-2018

Issue 105: External Trade, January-June 2018

The first half of 2018 produced some interesting figures regarding Georgia’s external trade. Even though the existing data is only preliminary, the analysis thereof unveils some curious results. Georgia’s exports and imports reached their highest point for the observed period of ...

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Issue 104: External Factors Affecting the Value of Georgian…

10-Jul-2018

Issue 104: External Factors Affecting the Value of Georgian Lari Exchange Rate

For the period of 2014 to 2017, in every first quarter of each year compared to the first quarter of the previous year, the nominal exchange rate of the Georgian Lari (GEL) against the US Dollar (USD) depreciated. This trend stopped this year though as in the first quarter of 201...

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Support to Public Ruling Drafting

20-Apr-2015
Start Date:
March, 2015
End Date: June, 2015
Region: Caucasus
Country: Georgia
Client: Ministry of Finance of Georgia
Origin of Funding: USAID

 

 

 

 






Project Description:

 

The objective of this assignment is to provide technical assistance and increase the capacity of the Ministry of Finance to issue public rulings.

PMCG will assist the Ministry of Finance to develop and introduce procedures for issuing public rulings and drafting first public ruling documents under the USAID-funded Governing for Growth (G4G) project.

As part of the assignment, PMCG will work to review, update and prepare recommendations on the draft ministerial decree on public rulings issuing procedures. Recommendations will cover technical and legal aspects of the draft decree.

The PMCG team will develop the first public ruling on taxation of agricultural activity. More specifically, profit tax exemption for part of the profits gained from agricultural activity reinvested within three years of the end of relevant fiscal year.

PMCG will evaluate technical and legal aspects taking into consideration international best practices. The public ruling draft will be discussed with representatives of the private sector.


Background information:


According to article 461 of the Tax Code, on the basis of the decision made by a dispute resolution body or under the initiative of the tax authorities, the Minister of Finance of Georgia shall issue a public ruling. The public ruling should be issued based on an analysis of the current practice of taxation.

A public ruling shall be a normative administrative-legal act and shall be published on the official website of the Legislative Herald (“Matsne”). Fulfillment of the public ruling should be mandatory for tax authorities. Furthermore, a taxpayer shall be charged neither an additional tax nor a sanction stipulated under the Tax Code for transactions effected thereof in accordance with the public ruling. The rule of issuing a public ruling shall be prescribed by the Minister of Finance of Georgia.

There is no experience of public ruling issuing in the Ministry of Finance. PMCG will provide technical assistance to the Ministry of Finance in drafting of procedures for issuing of public rulings as well as in drafting the first public ruling document. The first public ruling will cover taxation of agricultural activity. More specifically, profit tax exemption for part of the profits gained from agricultural activity reinvested within three years of the end of the relevant fiscal year.



Follow the links below for more detailed information:
Governing for Growth in Georgia (G4G)
Support to Approximation of Georgian VAT Rules with EU VAT Legislation
Simplification of Tax Code
USAID Georgia, Economic Prosperity Initiative – Assessment of Georgia-United Arab Emirates Double Taxation Treaty


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