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Article regarding supply time and amount of VAT given in Georgian Tax Code which came into force since 1st January 2011 is ambiguously and became an issue for different interpretations. Particularly, there wasn’t clarified whether advance payments should have attract VAT or not. Due to this uncertain recording Minister of Finance of Georgia has issued order #78, according to which advance payments for supply of goods/services that were not actually rendered should not be regarded as supply for VAT purposes and thus advance payments should not be subject to VAT.


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