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Introducing Short-Cycle Educational Programs in Georgia

05-Dec-2018

Introducing Short-Cycle Educational Programs in Georgia

On December 5, a stakeholder workshop was held under the UK Government’s Good Governance Fund (GGF) in order to support the Ministry of Education, Science, Culture and Sport of Georgia (MoESCS) in the implementation of SCEPs in Georgian education system.VET program...

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Discussing the Challenges Facing SMEs Seeking Access to Finance

29-Nov-2018

Discussing the Challenges Facing SMEs Seeking Access to Finance

On November 29, Giorgi Khishtovani, Director at PMC Research, presented the main findings and recommendations of –research entitled “Leveraging SME Finance through Value Chains in Georgia” in Astana, Kazakhstan.The research is focused on studying the challenges facing S...

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Presenting New and Simplified Financial Reporting Standards to SMEs

23-Nov-2018

Presenting New and Simplified Financial Reporting Standards to SMEs

On November 21-22, an informative-consultative meeting of 4th category enterprise representatives took place in Batumi and Telavi. The event was intended to increase awareness of representatives of small- and medium-sized enterprises (SMEs) regarding new financial repor...

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Supporting Intellectual Property Rights Reform in Ukraine

20-Nov-2018

Supporting Intellectual Property Rights Reform in Ukraine

We are collaborating with the Ministry of Economic Development and Trade of Ukraine (MoEDT) to implement reforms to the state management of intellectual property (IP) rights.The main aim of the project is to enhance Ukraine’s performance in managing IP and to develop a ...

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Better Skills for Better Jobs – Developing Employment and Vocational Education System in Georgia

16-Nov-2018

Better Skills for Better Jobs – Developing Employment and Vocational Education System in Georgia

On November 15, the Delegation of the European Union to Georgia and the Government of Georgia summarized four years of cooperation aimed at developing the Employment and Vocational Education and Training (EVET) system in Georgia.The summary focused on highlighting the a...

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Sharing Georgia’s Successful Reforms with Ukrainian Delegation

14-Nov-2018

Sharing Georgia’s Successful Reforms with Ukrainian Delegation

On November 9, David Lezhava, Public Policy Sector Director at PMCG, delivered a presentation and shared Georgia’s experience of introducing economic reforms and innovations in the public sector to a delegation from Ukraine. “The focus was placed on the continuous and c...

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Chinese Academy for Fiscal Sciences Set for Cooperation with Tbilisi State University and Academy of the Ministry of Finance of Georgia

13-Nov-2018

Chinese Academy for Fiscal Sciences Set for Cooperation with Tbilisi State University and Academy of the Ministry of Finance of Georgia

On November 6, PMC Research organized a meeting between the Chinese Academy of Fiscal Sciences (CAFS) and Tbilisi State University (TSU), with the aim of introducing these two institutions to each other and discussing collaboration opportunities. As a result of the meet...

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PMCG Shortlisted to Support Tajikistan and Kyrgyz Republic to Improve Municipal Infrastructure

12-Nov-2018

PMCG Shortlisted to Support Tajikistan and Kyrgyz Republic to Improve Municipal Infrastructure

We are pleased to announce that we have been shortlisted by the European Bank for Reconstruction and Development (EBRD), as part of a consortium led by HPC AG, to implement its Municipal Infrastructure Programme in the Republic of Tajikistan and the Kyrgyz Republic.Our ...

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Hosting Delegation from China to Start Collaboration

08-Nov-2018

Hosting Delegation from China to Start Collaboration

On November 6-7, PMC Research hosted a delegation from China, comprising high-ranking officials from the Chinese Academy for Fiscal Sciences (CAFS). The aim of the visit was to discuss the prospects of future collaboration between the two institutions.During the meeting...

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Azerbaijan and Kazakhstan Make Significant Progress in the World Bank’s Doing Business Ranking 2019

05-Nov-2018

Azerbaijan and Kazakhstan Make Significant Progress in the World Bank’s Doing Business Ranking 2019

We congratulate the Governments of Azerbaijan and Kazakhstan with their countries’ substantial improvements in the World Bank’s Doing Business Ranking 2019. Azerbaijan has moved from 57th place in 2018 to 25th place, and is among the ten economies to have made the ...

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PUBLICATIONS

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Issue 107: Georgia in International Rankings in 2018

12-Dec-2018

Issue 107: Georgia in International Rankings in 2018

Georgia was ranked 66th among 140 countries in the World Economic Forum’s Global Competitiveness Index1 in 2018. During 2010-2018 Georgia’s position in the ranking was improving, except one year. In 2018, compared to 2017, Georgia’s position in the ranking improved by 1 place...

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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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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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