Georgian Gov’t to Introduce Tax Benefits for Maritime Companies

Georgian Gov’t to Introduce Tax Benefits for Maritime Companies

The government of Georgia plans to introduce tax benefits for maritime companies in the Black Sea area of Georgia, specifically the Autonomous Republic of Adjara.

The statement was made by the Prime Minister of Georgia, Mamuka Bakhtazde, at the International Maritime Forum held in Batumi.

“We are working together with the Government of Adjara on a very important initiative that will enable us to introduce important tax benefits from the next year for companies that are engaged in marine businesses and services. This is truly a unique possibility…These companies will be able to operate paying nearly no taxes,” stated Bakhtadze.

According to him, the government is implementing important initiatives in order to make the country an international investment, communication, transport, logistic, tourist and financial hub.

The PM says that Georgia’s very large transit potential must be utilized by all the states of the region.

“Favorable geography and the unique location of Georgia promotes the country in becoming a regional hub in many directions… We must act synchronously and harmoniously. The integration of our transport systems is necessary for the full use of this potential,” he added.

The International Maritime Forum is being held on September 10-14 in the Black Sea coastal city of Batumi under the patronage of the Prime Minister of Georgia.

The main aim of the event is to raise awareness, within the region and beyond, of the indispensability of shipping and of the critical need to ensure healthy oceans, a delicate balance that a carefully devised and executed integrated maritime policy can go a long way to sustain. The Forum aims to be not simply informative but also proactive, and produce recommendations.

Around 400 delegates from 53 countries are taking part in the forum.

Source: Georgia Today