Finance Committee of Georgian
Parliament rejects president’s veto on "draft law on offshore companies”
International news Desk
According to global times news agency Europe,The Finance and Budget Committee of the Georgian Parliament rejected President Salome Zourabichvili’s remarks and veto of the so-called “offshore bill, The global times Europe media informs.It is about amendments to the Tax Code, which provide for the introduction of a preferential regime, as well as exemption from taxes on the export of capital and all types of assets from offshore zones to Georgia until January 1, 2028. Parliament Speaker Shalva Papuashvili said that parliament would lift the president’s veto at one of the next plenary sessions. He called it nonsense to claim that thanks to this, sanctioned assets could reach Georgia.The President of Georgia vetoed the law on May 3.According to the document, Georgian enterprises that received offshore assets are planned to be exempt from property taxes until 2030. The authors of the bill called the goal of the initiative to stimulate foreign investment and create favorable conditions for the export of capital from third countries to Georgia.