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Plots Surrounding Occupied Territories To Be Free from Taxes

April 18, 2012

The owners of the plots surrounding the occupied territories will be free from tax-payment. Relevant amendments will be introduced to the Tax Code.

According to the draft-law, plot-owners, which are located nearby the territory envisaged in the Law of Georgia about Occupied Territories, will be free from taxes; the owners cannot cultivate the plots due to its location.

According to the draft-law, the abovementioned circumstances shall be confirmed by corresponding notification issued by the local self-governmental agency and the minister of finances shall estimate the regulation rules after the law goes into force.

The government has initiated the draft-law and the parliament has not started its discussion yet.

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