13,500 Employers to Have GEL 43 Million in Fines Written Off
The Georgian government plans to introduce an amnesty for unpaid fines related to mandatory pension contributions.
At present, approximately 13,500 employers have been fined a total of GEL 43 million. The fines will be written off provided that the employers settle their outstanding pension contribution liabilities and accrued penalties by the end of 2026.
The amount of the fine will also be reduced. Instead of the current GEL 500 for a first violation and GEL 1,000 for a repeated violation, a flat fine of GEL 300 will apply to each violation.
The changes are included in a legislative package of amendments to the Law on Accumulative Pensions.
