Tax Benefits Granted to Print Media

According to the new tax code, which was approved by the Parliament on December 9 in its second hearing, the print media will be exempted from all taxes, except the income and social tax.

Georgian President Mikheil Saakashvili instructed Finance Minister Zurab Nogaideli to ensure that the press is exempt from taxes in the new draft tax code.
 
?The funds received from advertising are not enough for the existence of a free media and the state budget should not be replenished at the expense of the press,? President Saakashvili said at a news briefing on December 8.