On 3 June 2010 the Georgian Prime Minister Nika Gilauri introduced a new Tax Code to businessmen at Tbilisi Marriott Hotel.

"I want to say some prelims and advise you how the idea of drawing up a new TaxCodeappeared.
It is well known that the main objective of the Government is support of private sector. Our economic policy is directly oriented and built thereon - support of the private sector, maximum effective government and private sector which is effective, investors who are active, who make profit in Georgia and create jobs, employ our co-citizens. This is our simple philosophy. We did much to achieve such goals during the last years. 
We suggest a new Tax Code. I want to listen to your remarks to the maximum extent. The web-page will be available where everyone will be able to look through the changes made to the Tax Code. We'll create a Task Group to be working together with the private sector. I want to introduce Giorgi Pertaia to you. He was appointed to the position of the Prime-Minister Adviser, Business-Ombudsman. When the discussion touches your views concerning the Tax Code, he will be the only contact person in relation with the private sector", said Nika Gilauri.
According to the Prime-Minister, the New Tax Code provides that no tax will be imposed to businessmen with turnover less than 30 thousand lari. And those who have turnover less than 200 thousand lari, they'll have to pay only freight turnover tax less other taxes.
According to Nika Gilauri, the said amendments aim at simplification of business representatives' relation with tax authorities. Businessmen will be able to pay 3 or 5 percent of freight turnover. If a businessman duly keeps accounting he will pay a 3% tax, and in other cases - a tax will be 5%. 
One of the main novelties is that no penalty will be imposed to a person who assesses taxes in line with instructions of the administrative authority.
In compliance with the new Code, a particular penalty will be imposed for a detected non-registered unit whereas in case of a violation detected by the tax authority during stock-taking the tax authority was entitled to protract a penalty for two years.
As the Prime-Minister says the Customs Code and the Tax Code will be embodied. And sums will be returned automatically if payment is effected via any electronic system. 
Board of Auditors consisting of five members will be created presided over by the Finance Minister. According to the Prime-Minister, a tax authority should get permission from the Board of Auditors to impose a new tax. VAT will be paid on quarterly basis. This is similar to a two month interest-free loan. For the first time this new Tax Code will enable a taxpayer to write off a damaged product. 
"We want to increase dues for gambling business and tighten control over alcoholic beverage. We are trying to build a fair policy. We want to simplify a tax life of business and, on the other hand, equally allocate a tax burden among all business sectors", added the Prime-Minister of Georgia.

On June 2 of current year, The Finance minister Kahka Baindurashvili has announced the prepared amendment in tax code to business association members. The changes prepared by the Ministry of Finance foresee lots of privileges and the simplifying of tax obligation engagements for businessmen. “The goal of new legislation is the offering of more simplicity, freedom and reliability to business sector,”- announced Kakha Baindurashvili. Business Association has intensively cooperated with the Ministry of Finance during the last period and has presented its private commentaries and suggestions. On June 1, the ministry of Finance held the first public meeting with nongovernmental sector on a same issue. Kakha Baindurashvili plans the meeting with small entrepreneurs and merchants as well. Tax Code is changing by 98%. For public discussion of those changes, ministry is beginning series of meetings. As it has been promised, changes deal with small business. It will be present tree different regimes of taxation to them. Its worth to note that, system of monthly declaration has changed in quarterly declaration, which will be privilege for business.  Tax and customs cards will become unified. According to Changes, institute of Tax ombudsman is legitimated. While working on changes, we have foreseen euro directives and we wish working document to pass an expertise at Georgian Nongovernmental and Business sectors”.-said Minister of finance Kakha Baindurashvili. New tax code will be submitted to Georgian parliament for consideration and juridical approval after the public considerations and consultations.

Works for modernization of Georgian Sarfi customs are conducted at a much faster speed. According to the project, custom will be expanded in accordance with the modern international standards. After Turkish side finished custom construction, Georgian custom construction will finish in 9 month, based on which the capacity will triple, custom procedures will became simpler and better service will be provided for transporters and tourists. In order to discuss issues concerning construction and avoid all difficulties for the process of crossing the border, on May 29 was held meeting between the head of government Levan Varshalomidze and governor of Artvin. Georgian general council in Trabzon, representatives of Adjara and Artivin and general secretary of International Investors Association attended the meeting. During 24 hour of construction, loaded trucks will be served. Due to avoid difficulties for tourists, empty trucks will cross border only in night hours.

Georgian International Investors Association members took part in Groundbreaking official ceremony of Forum Batumi Trade Center. The first stone was put in by Georgian President Mikheil Saakashvili and the head of Autonomous Republic of Adjara Levan Varshalomidze. Trade Center will be constructed along new boulevard territory with 120 MLN US dollars investments which will be implemented by “Turk-Mall” Company. The contraction process will finish in 2 years and world level brands will be sold in it.

Open ceremony for Lech and Maria Kaczynskis Street attended Georgian International Investors Association members. The street was opened by Georgian President and near relatives of Polish President were attended. Lech and Maria Kaczynskis Street is located at the territory of the new boulevard. 

Georgian International Investors Association congratulates Georgian citizens on such a remarkable day and wishes prosperity, success and economical development.

The businessmen will have the personal tax agent in the Revenue Service, announced the head of Revenue Service in the interview with commersant.ge. The mentioned issue was put on the agenda during the meeting with the Chairman of Government of Adjara in Fabruary of current year by the International Investors Association. The personal agent will help the entrepreneur with the tax payment law as well because of the frequent amendments in tax payment code. It will serve the businessmen during the company inspection and will simplify the cooperation between the tax department and the tax payers. Personal Agent will simplify the entrepreneur’s relationships with Revenue services and this service will be offered to businessmen in nearest future – said Giorgi Tskhakaia. Information about the functions of the personal agent is not published for now. Experts suppose that Tax Agent will do the same duties as personal banker in bank system. Based on the evaluation of the specialists, this service will simplify the relationships between Revenue Service and Tax payers. If personal agent will assist companies concerning Tax Code will be fewer problems. Georgian International Investors Association welcomes the implementation of the Personal Tax Agent Service and hopes that this project will assist in improving investment environment in Georgia.

On May 17 of current year was held opening ceremony of the hotel “Sheraton Batumi”. The president Mikheil Saakashvili, Prime-Minister of Turkey Recep Tayip Erdoğan, the head of the Autonomous Republic of Adjara Levan Varshalomidze, representatives from the government, Turkish Delegation, representatives of Georgian International investors Association were attended the ceremony. Five stars Hotel has 203 rooms and received its first guests in spring of 2010. “Sheraton Batumi” was constructed based on Turkish investments. The owner is famous businessman Nurettin Carmıklı. On opening ceremony Prime-Minister of Turkey Recep Tayip Erdoğan underlined the importance of the cooperation of two countries and declared: “The most important is that the construction boom in Adjara should not be stopped and “Nurol Georgia” will assist in this issue. We have long term experience of cooperation concerning customs and airport and this cooperation will continue in the future”. The president of Georgia declared: “There will be all main hotel brands in Batumi, more world level hotels than elsewhere” and added that there will be the one of the best architecture of 21^st century in the world. Georgian International Investors Association congratulates association member “Nurol Georgia” on successfully implemented project.

On May 16-17 of current year, Batumi hosted the delegation of Turkey’s famous corporation group “Agaloglu” which was headed by the chairman of board management of the firm the famous businessman Mr. Ali Agaoglu. They were hosted by cabinet of the chairman of the government of Adjara, the Ministries of Finance and Economic and International Investors Association of Georgia. In 1981 established construction firm unites 15 companies for today and is one of the most famous and successful group in Turkey, which has the several billion projects. Agaloglu corporation group is interested in the spheres of construction of the hydroelectric weirs, Hotel network and the apartments construction.