Transparency International Georgia has analyzed the legal and economic implications and threats that could arise following the entry into force of the new regulations of tax liens.
We recently published a blog post about the new regulations concerning tax lien.
Recent amendments to the Georgian Tax Code (Article 239) and, respectively, to the law “on Enforcement Proceedings” (Article 823) change the way that the priority of liens is calculated. A lien is a claim on a debtor's property in order to ensure payment of a debt; a mortgage is a type of lien.
There has been significant discussion about the lack of judiciary independence in Georgia. Non-governmental and international organizations, as well as representative of other countries have recently put a particular emphasis on the importance of an independent judiciary as a key pillar of democracy.