Saakashvili Hails Tax Cut as Bold Step

President Saakashvili said the government has decided to immediately cut income tax from 25% to 20% starting from January, 2009, instead of initially planned gradual decrease. Dividend tax will also go down from 10% to 5%.

“This is a very bold step by the government,” Saakashvili told a group of Georgian journalists in Warsaw on November 11, where he was attending ceremonies marking the 90th anniversary of Polish independence day.

“We will respond to the crisis with more liberalization and with more democracy and reforms,” he added.

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