Daily News

IN THIS ISSUE:

Finance Ministry’s Revenue Service declared that in line with amendments to Tax Code (published on June 1), certain category of taxpayers has been released from tax arrears.

In particular, subject to write-off are tax arrears, collected before January 1, 2011, if taxpayer did not show activity since then (has not submitted tax declaration/calculation (except property tax declaration) or income is not fixed, according to submitted tax declaration/calculation).

National Bank of Georgia (NBG) reported about selling of $20 million at the currency auction, held on September 22. Weighted average exchange rate made up 2.3117 GEL/USD.

Austria has opened embassy in Georgia, which is located on Griboedov Street in Tbilisi (near Rustaveli Avenue). Through July of this year, Austria executed diplomatic service in Georgia via embassy in Azerbaijan.

Bruno Balvanera, EBRD director for Caucasus, Moldova and Belorussia, declared that “safety and quality of Georgia’s meat procession need to be improved and adapted to EU standards”.

“Growth of meat products’ quality standard will help companies to improve their access to finances and attract strategic investors”, Balvanera said.

National Bank of Georgia (NBG) announced release of renewed 100 lari banknotes, which will be put in circulation in November in parallel with the old ones.

Banknotes with face value of 20 and 50 lari have been already in circulation since February 1, while 5- and 10-lari banknotes will be renewed later, NBG said.

Economy and Finance Ministry of Ajara reported that feasibility study of coastal line has been completed.

The Ministry said that coast protecting structures will be built according to design, developed by Italian consulting company.

TBC Bank declared that 50 million of its shares are placed in premium listing of London Stock Exchange (LSE). Shares of TBC Bank are traded on LSE since 2014.

State Service for Insurance Supervision reported that as of June 30, insurance of financial losses was provided by 5 companies. These were GPI Holding, Ardi Insurance, Irao, Unison and IC Group.

State Service for Insurance Supervision reported that total premium, attracted in obligations’ insurance as of June 30, amounted to 86 million lari (year-on-year decline – 13.5%). This category accounts for 1.2% of total insurance premium for the period.

State Service for Insurance Supervision reported that as of June 30, insurance of credit liabilities was provided by Tao only.

In the reporting period, the company attracted 7,323 lari.

Ministry of Economy and Sustainable Development reported that company Nutri Max has built mixed fodder plant within “Produce in Georgia” state program.

For that end, land plot of 30,394 square m, located in Ponichala settlement of Tbilisi, was handed over to the company within the program, the Ministry said.