Today news:

EXPERTS DEMAND SIMPLIFYING OF THE TAX CODE

Tax Code for entrepreneurs should be easily understandable, underlines Irakli Chikvadze, expert of Ernst&Young in tax issues. There many articles in the current Tax Code, which are not reasonable and cause many questions, he says.

Chikvadze announced about it after discussion of amendments to Tax and Customs Codes. The discussion was held through organization of Georgian Finance Ministry and American Chamber of Commerce.

BUSINESS COUNCIL OF EU AND GEORGIA PROVIDES AWARENESS OF EXPORTERS

Head of the business council of EU and Georgia, Kote Zaldastanishvili considers that growth of the export potential greatly depends on entrepreneurs’ awareness.

Georgian businessmen should know about tariff barriers as well as about nontariff barriers, told Zaldastanishvili Sarke. The matter concerns packing, labeling and other standards.

LOCAL POPULATION PREFERS CONTROL OF DONORS’ FINANCIAL AID BY DONORS THEMSELVES

Caucasus Research and Resource Center (CRRC) held a survey and polled 1,837 respondents, where it turned out that 27% of the polled considers that the greatest part of the aid will be spent efficiently and legally. While 31% thinks that aid will not be ordered reasonably.

48% of the polled wants the donors to order the sums and not any other institutions. 40% of the respondents also demands from donors to control reasonable spending of money.

EXPERTS TALK ABOUT AVERTING OF THE CRISIS

Former economic mister Vladimir Papava sees the way of averting the crisis in efficient regulation of the financial system. Namely, he offers to launch simplified payment rules as well as grace tax period, lowering of interests, etc.

Besides, the expert underlines the necessity of independence of the National Bank of Georgia (NBG).

NEW PARKING SYSTEM IS LAUNCHED IN TBILISI

The first parking meter was installed today by LLC CT Park in Tbilisi (Vazha-Pshavela 16). It is planned to install 10 parking meters in Tbilisi by the end of the year.

As Irakli Jibladze, deputy service manager of the LLC told the journalists, new parking system will wok in the testing regime for a month.

SUM ENVISAGED IN THE BUDGET FOR ACQUISITION OF AGRICULTURAL EQUIPMENT CONSIDERABLY INCREASED

Deputy Agriculture Minister Aleko Tsintsadze announced that 22.4 million lari is envisaged in the state budget-2009 for acquisition of agricultural equipment. This sum made up 1.1 million lari current year.

It is planned to acquire nearly 533 units of equipment (including grain harvester combines – 14 units, tractors – 127, agricultural cars – 392).

RATE OF THE CONSTRUCTION SECTOR SLIGHTLY IMPROVED IN JULY-SEPTEMBER

As Georgian Statistics Department reports, turnover of the construction sector made up 323 million lari in the 3rd quarter of 2008, which is more by 1.8% compared with the 2nd quarter.

Large enterprises account for 79.5%, i.e. 256.7 million lari of the turnover, middle-sized enterprises account for 14.4%, i.e. 46.6 million lari, while small enterprises account for 6.1%, i.e. 19.7 million lari.

SMALL ENTERPRISES REDUCED TURNOVER, PRODUCTION, INVESTMENTS AND NUMBER OF EMPLOYED

As Georgian Statistics Department reports, total turnover of small enterprises made up 386.4 million lari in the 3rd quarter of 2008, which is less by 3% compared with the 2nd quarter.

The volume is increased by 4.6% compared with the same period of 2007. Small enterprises account for 8.1% of total turnover.

AZERBAIJAN, UKRAINE AND TURKEY ACCOUNT FOR THE GREATEST SHARE OF INTERNATIONAL CARGO SHIPMENTS PERMISSIONS

As Georgian United Transport Administration reports, according to the latest data, Azerbaijan, Ukraine and Turkey accounted for 80% of the quoted single permissions for cargo shipments.

Total sum of the issued permissions made up 7,772, out of which 6,337 belong to the three countries. Azerbaijan accounts for 2,790 permissions, Turkey – 1,890, while Ukraine – 1,657.

LLC BLACK SEA TELECOM BECAME THE OWNER OF 3.5 GHZ DIAPASON LICENSE

Georgian Communications Commission announced LLC Black Sea Telecom the winner of today’s auction on getting the frequency license in 3.5 GHz diapason.

Accordingly, starting price of the license – 1.86 million lari was added by one step, the company will pay 1.95 million lari.

LEGAL NORMS TO BE WORKED OUT FOR LAYING FIBER-OPTIC NETS

Caucasus Online, along with Georgian Communications Commission and Tbilisi City Hall is engaged in the process of working out legal norms for laying of fiber-optic nets, told Sarke the internet provider.

As the company informs, simple procedures will probably be worked put in a month in order to put the nets in legal terms.

CAUCASUS ONLINE COVERS REGULATION FEE INDEBTEDNESS

LLC Caucasus Online covers the regulation fee indebtedness accumulated towards the Georgian Communications Commission, told Sarke the company.

The Commission raised the issue on covering the regulation arrears in September 2008 and Caucasus Online was warned by the sanction.

SHAREHOLDERS OF JSC CAUCASUS ENERGY&INFRASTRUCTURE SHOULD SUBMIT APPLICATIONS ON REPO SALES UNTIL DECEMBER 19

Possibility of selling REPO shares (selling of shares with repurchasing right) was adopted at today’s special meeting of JSC Caucasus Energy&Infrastructure shareholders.

Those who wish to take part in the REPO operation, will be given 7 days in order to submit their offer in the written form to company’s management.

JSC ENERGOPRO GEORGIA LAUNCHED OKAMI SUBSTATION

As JSC EnergoPro Georgia informs, the company launched 35/10 KW Okami substation (Kaspi district, Shida Kartli).

The company invested 200,000 lari in construction of the mentioned substation. Construction started in October current year and lasted for two month.

NOBODY IS INTERESTED WITH THE OIL OF GEORGIAN OIL AND GAS CORPORATION

Auction announced by LLC Georgian Oil and Gas Corporation, with the aim of selling the oil, failed today because of applications absence.

Two types of oil were auctioned: Brent – 30,000 t and Urals – 1,500 t.

For further information:

Sarke