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Can the State Return the Untaxed Minimum?

Published: August 7, 2013 | 1:27 pm
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In the light of the current economic situation in the country, some experts have stated that the Budget will struggle to return the untaxed minimum to those who are entitled to it. According to the economic expert Levan Kalandadze, the ability to return the untaxed minimum depends on the strength of the Budget, and in the light of the existing problems, the State might struggle to fulfil its obligations in this regard, and might even have to borrow more.
The Finance Ministry has disagreed with the experts’ assessment, stating that the department will fulfil all its responsibilities. In a statement published on the ministry’s official website, it is said that the overall economic situation in the country is stable, and that the Budget income is exceeding the spending. Individuals whose monthly income does not exceed 500 GEL are to have the income tax refunded to them as an untaxed minimum totalling 360 GEL.

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