- The IMF paper analyzes the impact of Georgia’s Large Taxpayer Office (LTO), established in 2021, on tax compliance and revenue.
- Assigning taxpayers to the LTO increased annual tax assessments by 0.4% to 0.7% of GDP, mainly from VAT and withholding taxes.
- The LTO improved compliance through targeted enforcement and better taxpayer services, with fewer but more selective audits.
- The greatest revenue gains were in sectors with strong third-party reporting and easily traceable transactions.
- Enhanced oversight of large taxpayers leads to significant and lasting fiscal gains.
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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