Opposition lawmakers from the New Rights party proposed on December 15 to prolong the term of a preferential tax system for the print media, which expires at the end of this year.
For the past two years the Georgian print media has enjoyed preferential tax benefits through an exemption from the 18% value-added tax, 20% profit tax and tax on property. The two-year tax exemptions were introduced by the tax code approved in late 2004. In the period between 2005 and 2006 the print media was paying only 12% income tax and 20% social tax.
The Georgian daily 24 Hours reported on December 16 that there is little chance for this preferential tax system to be prolonged; but the daily Rezonansi said the ruling National Movement party is still undecided about the issue.
?This is an issue which needs to be discussed,? Rezonansi quoted Giga Bokeria, a parliamentarian from the ruling party, as saying.
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