The Finance and Budget Committee of the Georgian Parliament rejected President Salome Zourabichvili’s remarks and veto of the so-called “offshore bill, ” Report informs via Georgian media.

It is about amendments to the Tax Code, which provide for the introduction of a preferential regime, as well as exemption from taxes on the export of capital and all types of assets from offshore zones to Georgia until January 1, 2028.

Parliament Speaker Shalva Papuashvili said that parliament would lift the president’s veto at one of the next plenary sessions. He called it nonsense to claim that thanks to this, sanctioned assets could reach Georgia.

The President of Georgia vetoed the law on May 3.