Taxation administration toughens

Taxation revenues in 2010 should be GEL 4.382 billion, according to budgetary projections, or more than 23% of GDP. Taxation revenues in the 2010 budget have been increased for different segments, but economic analyst Davit Narmania thinks that in 2009 the country’s economy contracted by at least 4% so it is difficult to understand where this new optimism has come from.

Independent analysts mostly think that budget projections are not based on a realistic assessment. Some revenues are however increasing, mainly customs and excise duties. The analyst thinks an optimistic prognosis can be given for these revenues.