A meeting with participation of non-governmental organizations was held on 22 March 2012 in the office of Civil Society Institute. The meeting aimed to develop the ways for solving tax problems that hinder financial sustainability of non-governmental organizations.|
Presented at the meeting was the draft bill prepared by the Civil Society Institute on bringing amendments and supplements to the Tax Code of Georgia, which aims to:
The meeting participants have unanimously approved the draft bill and agreed to continue their joint work to solve the tax issues impeding the work of non-governmental organizations.
- Exempt not-for-profit legal entities from the obligation to withhold income taxes when they transfer to physical persons property with the value up to 1,000 GEL, reimburse to volunteers work-related expenses, etc.;
- Define the term "donation" in the Tax Code;
- Exempt gratuitous services received by not-for-profit (non-commercial) legal entities within the scope of welfare activities from the profit tax;
- Provide an opportunity to business organizations to set off from the joint income the value of donation given to welfare organizations, etc.