Georgia Investment Climate

completed

IFC Georgia Investment Climate (IC) Project will work closely with the Ministry of Finance and the Revenue Service to simplify tax administration procedures and streamline international taxation to reduce compliance costs of businesses and facilitate cross border trade. The main components will include: developing and implementing transfer pricing procedures; streamlining VAT procedures; supporting exchange tax of information; upgrading of the Customs Automation System; streamlining customs valuation; and strengthening the application of the harmonized systems for trade. On investment policy, the project will undertake the following activities: review of the provisions of investment legislation and implementing regulations. Emphasis will be placed on strengthening investor guarantees and protections, including investor protection confidence, barriers and conditions placed on market entry, increasing the transparency of the legal framework for investment; review of the investment incentives regime, including specific fiscal and non-fiscal instruments that aim to increase investment in the country.