"30% of our revenue is spent on taxes, and in my opinion, profit and income taxes are excessive,"
Giorgi Putkaradze, director of the fitness center "Reformer," said on Commersant radio. He emphasized the need to revise the tax policy to create a more favorable environment for doing business in Georgia.
Nearly 30 percent of our revenue is allocated to government taxes. I feel all taxes should be revised. In my view, income and corporate taxes are entirely unnecessary. VAT is a fairer tax, as it's ultimately a consumer tax: the more a business consumes, the higher the percentage the consumer has to pay. However, 18 percent is excessive, and a reduction would greatly benefit businesses.
In this case, consumers would have more money left, and they would spend it more wisely.
"Naturally, taxes can't be cut in one go, , but we can do it step-by-step, while cutting down on bureaucracy at the same time," Giorgi Putkaradze points out.
