Articles

Newsletter I: Initiatives and legislative amendments for promoting business activities in Georgia

December 2016 - January 2017
Legal News
Amendments to the Organic Law of Georgia on the National Bank of Georgia
On  December 29, 2016, the Parliament of Georgia enacted important changes to the Organic Law of Georgia on the National Bank of Georgia. The changes enable the National Bank of Georgia to operate more effectively to protect the interests/rights of consumers. Provisions 2¹ and 2² have been added to Article 34, which will enter into force on  July 1, 2017, stipulating that:  if property or/and service is offered or/and advertised for  sale  by  the  entrepreneur  on  the  territory  of Georgia  the price of the property/service shall be expressed solely in GEL.
Bill on E-documents and E-services
The Parliament of Georgia is currently considering a bill on E-documents and E-services. According to the changes, e-signatures will have legal force. E-documents and e-signatures will be used in Georgia and other countries. A special archive for electronic documents will be created and legal entities will be granted the right to use electronic stamps./The laws, which might be affected by the draft law, are:

  • The Tax Code of Georgia;
  • The Civil Procedures Code of Georgia;
  • The Law on Accounting, Reporting and Audit;
  • The Organic Law of Georgia on the National Bank of Georgia.


Full version found here: 16

                                                              


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