Letter/Announcement International School of Economics at Tbilisi State University (ISET) ISET Policy Institute • Monthly Online Newsletter • ISET Policy Institute's research team examines the implications of the Offshores Law approved by the Parliament of Georgia, vetoed by the President of Georgia, and the subject veto overruled by the Parliament on May 28, 2024. [...] The subject tax code amendment incentivizes the relocation of assets from offshores to Georgia. [...] In light of these concerns, the amendment to the tax code could potentially violate international standards, such as the OECD's BEPS Actions and FATF recommendations, by creating a favorable regime for tax avoidance and undermining due diligence efforts. [...] In summary, even if the presented intent behind Georgia's tax code amendments might be to boost foreign direct investment, the associated risks and negative perceptions far outweigh the potential benefits, and the policy brief recommends abolishing the law in the best interest of the country. [...] Read our Khachapuri Index - RESEARCH HIGHLIGHTS & PUBLICATIONS - Why the National Bank of Georgia ECONOMIC POLICY ALERT: Russian wheat policies and is ditching dollars for gold Pension Legislation Georgia's strategic responses Read more Read more Read more WE VALUE OUR PARTNERS! ISET • unsubscribe • Please consider the environment before printing this email .
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