Tbilisi. The Georgian Parliament is currently holding committee hearings of an updated version of the country’s Constitution.

''One of the suggestions proposed during these hearings by members of the parliamentary majority was to remove Article 67 (Article 94 of the acting Constitution), which requires the government to hold a referendum if it wishes to impose a new kind of state tax (except in case of excise tax), or increase the upper limit for an existing tax (except in cases stipulated by an organic law).

The removal of Article 67 will negatively affect the country's attractiveness for investors and predictability of its business environment. We believe that this provision must remain in the new Constitution, in order to preserve and increase Georgia’s economic growth and attractiveness of its business environment. We remain hopeful that the Parliament refuses to support the removal of Article 67'', is noted in the statement.

Source: www.transparency.ge