The recent amendment to Georgia’s tax code, known as the “offshores law,” has sparked significant concern regarding the integrity of Georgia’s financial system. This policy brief examines the implications of this amendment in the context of Georgia’s recent political and regulatory developments, which have raised alarms about the potential risks of money laundering and sanctions evasion.
The ISET Policy Institute has been closely monitoring and assessing the progress of pension reform for years. Respectively, we have reviewed the proposed changes and identified substantial risks for the effective organizational structure of the pension fund and the welfare of over 1.5 million participating citizens.
ISET Policy Institute, which since 2011 has been in service of the development agenda of the country through economic policy dialogue and evidence-based economic research condemns the government’s recent actions and reintroduction of the so-called ‘Russian Law’ that jeopardizes country’s European integration and puts its cooperation with authorities on hold until the Georgian government returns into service of the country’s European aspiration.
As the subject law emerged unexpectedly in the legislative sphere and was processed and approved at
Georgia is committed to various international agreements on climate change, notably the Paris Agreement and the Association Agreement with the European Union. Recently, in 2021, Georgia announced a new Nationally Determined Contribution, pledging to reduce greenhouse gas emissions by 35% compared to 1990 levels.