Alexander Ankvab discussed the effectiveness of import VAT with entrepreneurs

The meeting was attended by representatives of the economic bloc of the Government.

 Sukhum. 12 June. Apsnypress. Prime Minister of the Republic of Abkhazia held a working meeting with representatives of the country's business community. The meeting was attended by representatives of the economic bloc of the Government.  

Participants of the meeting discussed approaches and mechanisms for improving the tax system, in particular, levying value added tax (import). Business representatives shared their views on its effectiveness, noting that in the current business environment, it is important for the Government to review the principles and terms for calculating and paying VAT. In their opinion, it is also important to review the list of goods that are not subject to this tax in order to eliminate the unjustified differentiated approach.

In addition, the meeting raised the perspectives of the entry into force of the new law on the simplified tax system, the issues of regulating conditions for paying taxes under the current general taxation system: possibility of creating conditions for offsetting the amounts of overpaid taxes and fees, offsetting between taxes, etc.

Prime Minister noted that the first meeting with entrepreneurs was held in order to formulate operational proposals on amendments to regulatory legal acts that determine the principles of payment of value added tax, in particular, the creation of conditions for deferred payments.

Following the meeting, members of the Government were instructed to analyze the proposals of business representatives, to calculate financial risks in terms of revenue to the republic’s budget, subject to deferred VAT payments or to reduce the current rate.