Georgia Tax Policy Directions in Value Added Tax (VAT) and Expected Results of Reforms

Abstract

The research aims to review the direction of Georgia's economic policy, in particular, the reforms implemented in the field of tax policy in value added tax (VAT). For this purpose, the method of comparing the legislative records, as well as the analysis of official statistical data and their generalization are used, as well as the research I conducted (the results of a survey of entrepreneurs) on several reforms in value added tax. The current result of the major reforms in this tax is an indicator of positive dynamics. This study will allow stakeholders (as well as entrepreneurs) to evaluate the effectiveness of tax policy, which is reflected in both statistical information and international rankings. The general business environment following the reforms and the regulatory norms of value added tax (VAT) in Georgia will be analyzed. This will be the basis for observing the dynamics of the positive indicators of the reforms carried out, and at the same time to take into account the influence of environmental factors during the assessment.