Organized by SMEDA and sponsored by Loialté, a large-scale business forum was held on February 29 at the Le Méridien Hotel. The forum focused on tax-related issues and the challenges associated with them.

The business forum was traditionally supported by Bank of Georgia Business and Loialté.

More than 150 representatives of small and medium-sized enterprises attended the event. During the forum, experienced and highly qualified tax experts discussed the following methodological guidelines:

• Guidelines on determining a person’s tax liability using indirect methods

• Guidelines on the taxation of receivables (including those recognized as bad debts) and outstanding payables

• Guidelines on cash handling in the cash register

• Guidelines on business operations with no substantial economic impact for tax liability determination purposes

• Guidelines on the reclassification of business transactions

The speakers also reviewed tax changes that came into effect on January 1, 2024.

Given the relevance of the topic, the forum also addressed amendments to data protection legislation and the related challenges for businesses.

SMEDA will soon continue to offer supportive and engaging activities for small and medium-sized entrepreneurs.