A Simplified VAT Return to Start from January 15

A Simplified VAT Return to Start from January 15

access_time2018-01-12 16:06:06

A simplified VAT return will start from January 15.

According to the Minister of Finance, the decision is already adopted, despite about 2 quarters are needed for creating the necessary software system. However, implementation of the reform needs some time.

The reform will be carried out simultaneously with the introduction of the system and  business will not have to deal with bureaucracy.

“The main goal of the decision is the business to feel comfortable and positive”, - Mamuka Bakhtadze said Friday at a briefing.

According to the Minister, VAT payer companies that meet all major criteria are offered by the Ministry of Finance to return the overdue VAT within 5 days. And, those companies that need time for objective reasons to meet the criteria, the Ministry offers to return overdue VAT within 14 days.


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