Statement of Revenue Service of Georgia, Ministry of Finance

03-October-2018

Today “Omega Group” has released a statement where the Ministry of Finance and Revenue Service was directly accused of spreading the false information. On behalf of the Ministry of Finance and the Revenue Service, we are taking full responsibility to state that all the information spread by the Ministry of Finance and Revenue Service regarding the tax debts of the Company "OGT" is absolutely true and confirmed by the relevant documentation.

In 2015, "OGT" paid 35 203 170 GEL to the budget but did not pay 1 358 919 GEL, penalty interest for which amounted 134 371 GEL. Tax debt at the end of 2015 amounted to the 1 486 696 GEL.

In 2016, penalty interest on Ltd “OGT” amounted 2 143 845 Gel. Based on the declarations filed in 2016, the company’s due tax was 20,880,470 GEL but they paid only 2,099,350 GEL, therefore considering the fines accrued to the unpaid amount by the end of 2016 recognized tax debt amounted 21,679,836 GE.  Tax liabilities were increased in the same way in the following 2017 year, where declared taxes amounted to 19,973,500 GEL, but paid was only 12,868,653 GEL. Thus, by the end of 2017 recognized tax debt, including the penalty on unpaid amount was already 33,411,299 GEL.

In 2018, it declared and therefore recognized 16,076,671 GEL and paid only 1,214,785 GE to the budget.

In total, since 2016 until now, 16,182,788 Gel was paid to the budget. As for today, the tax debt on the Taxpayer’s private accounting card, tax debt is 52,830,844.  

It should be mentioned that, currently recognized tax debt is accrued to the TV Company Iberia, which for now constitutes 86,811 GEL. It should be mentioned, that we have the legal right to impose collection order to the bank accounts, and also to use seizure, which we did not use in order to protect and ensure the freedom of speech and provision of inviolability in the country.

With regards to the false information announced by the representatives of the company:

Since March 5th, 2015 until now, application of compulsory measures was suspended 13 times, from them two times timetable of payment has been elaborated, and both of them were cancelled because of the failure of payment of the current payables. Also, 11 times, and not the 7 times as the representatives are announcing, compulsory measures were not applied, taking into account the taxpayer’s request. We also call for all interested parties, including the media representatives, to personally get familiar with this document. This are 13 documents, including as we state -11 about the postponement and 2 letters about the elaboration of timetables. 

As for the announcement of the restructuring of tax debt, this mechanism can be used only for the due tax liability. This means that company can continue its activities, expressing the readiness to pay the current payables and reduce the due tax liabilities according to the timetable.

For the particular case of “OGT”, we face the opposite case. When the company requested for the restructuring tax debt, its debt was 29.7 million Gel, from where the main amount was 26.4 million GEL and the rest was fine and interest. Company was offered a much better option. Ministry of Finance provided the possibility to work, (even with the violation of conditions), without the use of restructuring procedures. It represented a simpler solution for the taxpayer and for the company giving the possibility to show the healthy dynamic of fulfilment of tax liabilities.

But, the company continued to accumulate the new current payables and the tax debt was increased up to 52.8 million GEL, where the main tax increased from 26,4 million to 40 million Gel.   

Therefore, Ministry of Finance used its leverages to prevent the accumulation of tax debt.

 

 

Revenue Service of the Ministry of Finance of Georgia

 

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