**Budget Execution on Track, Says Georgian Finance Ministry**
The Georgian government is pushing back against claims that the country’s budget execution is delayed or problematic. In fact, according to Giorgi Kakauridze, First Deputy Minister of Finance, the budget has actually been overfulfilled for the first quarter of this year.
Kakauridze dismissed as “disinformation” and a “deliberate attempt to mislead the public” claims that companies are being asked to pay taxes in advance. He explained that income tax paid alongside wages is initially recorded under “Other Taxes” before appearing under income tax on the 15th of the following month.
**Tax Shortfalls: A Clear Explanation**
The Deputy Minister also addressed concerns about overall tax shortfalls, saying that the only significant shortfall was in excise tax. This, he explained, was due to changes in regulations on tobacco imports, which resulted in lower volumes compared to previous years. Additionally, companies had stockpiled tobacco products before the new regulations took effect.
As a result, Kakauridze reassured that this shortfall will be fully addressed in the coming months and quarters. This suggests that the Georgian government is taking proactive steps to address any issues and ensure the country’s budget remains on track.
**A Message from the Ministry**
This information was released by the Ministry of Finance’s press service, highlighting their commitment to transparency and open communication. By setting the record straight, the ministry aims to dispel any misinformation and provide a clear understanding of the country’s financial situation.
Read More @ www.interpressnews.ge
