"SHADOW TAX" - ONE OF THE CHALLENGES OF MANDATORY ACCUMULATIVE PENSION SCHEME OF GEORGIA
"SHADOW TAX" - ONE OF THE CHALLENGES OF MANDATORY ACCUMULATIVE PENSION SCHEME OF GEORGIA
Author(s): Shota KaralashviliSubject(s): Business Economy / Management, Public Finances, Fiscal Politics / Budgeting
Published by: Asociaţia de Cooperare Cultural-Educaţională Suceava
Keywords: Small business; mandatory accumulative pension scheme; shadow tax; non-taxable income;
Summary/Abstract: In Georgian pension system the precedent of accumulative pension model indicates on existence of relevant signs of European standards. Until 2018 there was operating only one-stage pension system. So the accumulative pension model is a novelty for any party involved in the process; therefore, in Georgia the challenges accompaning various changes are characterized by a special specificity. We would like to focus on one of the challenges that equally affects all three parties involved in the mandatory funded pension scheme, including state, employer and employee. We must underline the following fact: if we want to overcome this challenge, we must implement changes not only in retirement, but also in the areas of taxation and labor sphere.
Journal: Ecoforum
- Issue Year: 9/2020
- Issue No: 2
- Page Range: 0-0
- Page Count: 3
- Language: English