Thursday, August 9, 2007, #151 (1418)

Georgian trade unions are protesting the proposal to increase individual income tax in 2008 to 25 percent, reports the newspaper Akhali Taoba.

Head of Georgia's trade union confederation Irakli Petriashvili said that 30 000 signatures have been collected calling for parliament to reconsider the draft law on the income tax. Personal income tax is currently 12 percent in Georgia, but unions demand a reduction to ten percent for ordinary citizens-and people living below the poverty line should be exempt altogether, they say.

Petriashvili thinks that if income taxes decrease, there will be greater opportunity for people to invest extra money in small business ventures. He pointed out that this would not only increase the individual spending but also aid small business development.

© The Messenger. All rights reserved. Please read our disclaimer before using any of the published materials.