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IFC, Georgia Revenue Service Help Companies Take Advantage of New, Easier Trade Regulations

Published: February 24, 2012 | 3:46 pm
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Batumi, Georgia, February 24, 2012—IFC, a member of the World Bank Group, and Georgia  Revenue Service are helping Georgian business people and companies learn how to take advantage of recently simplified import-export procedures, boosting cross-border trade.

The IFC Georgia Tax Simplification Project and the Georgia Revenue Service hosted a two-day workshop in Batumi this week to help import-export companies, consulting firms, and brokers take advantage of reforms in cross-border trade regulations and custom clearance zones. The event included an opportunity for participants to visit Adlia and Poti customs clearance zones and see the integrated border management system at the Sarpi customs checkpoint with Turkey.

“The new tax and customs reforms simplify procedures for importers and exporters, helping to substantially reduce time and costs,” said Jaba Ebanoidze, Director General of the Georgia Revenue Service, Tax and Customs Administration. “Improved infrastructure and new electronic services will offer entrepreneurs more customer-oriented solutions, and the Batumi workshop has helped to inform Georgian businesses of these new opportunities.”

Thomas Lubeck, IFC Regional Head for the Caucasus, said, “IFC is committed to helping the Georgian government improve the regulatory environment for businesses. An important component of that work is increasing awareness among entrepreneurs of their rights and responsibilities, and of legislative changes that affect their operations.”

The IFC Georgia Tax Simplification Project is supported with funds from the governments of Austria and Luxemburg, and the Ministry of Foreign Affairs of the Netherlands.

Georgia has been a member of IFC since 1995. IFC’s cumulative investments in the country to date total $561 million in 40 projects across various sectors. IFC advisory services projects in Georgia focus on reforming the tax system to benefit small businesses, helping raise food safety standards, and strengthening the risk-management practices of banks.

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit www.ifc.org.

 

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