Finance Ministry Involves 181 New Members in Golden List of Companies in Automatic Regime

The Finance Ministry of Georgia has introduced revised terms for involvement of new members in the Golden List of companies.

Namely, the companies meeting the Golden List membership requirements will automatically become the Golden List members, Giorgi Tskhakaia, the head of the Georgian Finance Ministry Office of Revenues, told GBC.

The revised terms have enabled 181 companies to become the Golden List new members. Hence, currently, the Golden List unites 193 companies.

The Finance Ministry put the Golden List in force on January 15, 2009 to provide softened customs regulations to a certain category of companies. At the end of 2009 the Golden List membership terms were softened further and required annual customs value of declared cargo decreased to 5m GEL from 10m GEL, while annual payments on import duties shrank to 900 000 GEL. Customs duties general guarantee on excise-free goods were reduced to zero, while the guarantee on excisable goods decreased to 100 000 GEL from 500 000 GEL.

Previously, the companies pretending for the Golden List membership must have no customs lawbreaking for a year, but now the term has been reduced to 6 months.