The Statement of the Revenue Service of the Ministry of Finance of Georgia

15-July-2019

According to the Tax Legislation of Georgian, the information about a taxpayer is regarded as tax secret. However, due to high public interest, in order to provide the population with an objective information, the Revenue Service of the Ministry of Finance explains that Tax Audit process is being carried out over “Maknatuna” Ltd on the basis of taking stock of inventory holdings.
Tax Monitoring department of the Revenue Service of the Ministry of Finance started taking inventory of “Maknatuna” Ltd on 26th of November 2018 and currently, the documents and materials introduced by the taxpayer is being studied and processed.

The process is in full compliance with the norms envisaged by the tax legislation. In particular, according to Article 261 of the Tax Code of Georgia, the head of the tax authority may issue an order for taking stock of inventory holdings and/or fixed assets of a person for a maximum of two times in a calendar year, and an inventory may be checked for a third time by an order of the Head/Deputy Head of the Revenue Service. 

It should also be noted that dozens of companies are being audited every day by the Revenue Service of the Ministry of Finance in accordance with the Tax legislation of Georgia and this is a normal process. Thereby, connecting the ongoing Tax Audit process over “Maknatuna” Ltd to political processes is an attempt of certain groups to deliberately mislead the population and to use it for political purposes.

 

 Revenue Service of the Ministry of Finance


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