Fostering Entrepreneurship in Georgia by Smita Kuriakose

Author:Smita Kuriakose
Language: eng
Format: epub
Publisher: The World Bank

In Georgia the most commonly cited constraints included continually changing taxation regulations and high tax rates. Analysis conducted by GeoWel Research found as many as 285 amendments to the tax code in 2011, reflecting the continually changing taxation regulations that businesses would find difficult to keep track of. Continually changing tax regulations is the most cited constraint for both Armenian and Azerbaijani respondents as well, with the additional constraint of government officials favoring well connected individuals in Armenia, and bankruptcy legislation making the cost of failure immense in Azerbaijan.

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