The Parliament of Georgia overrode the President’s veto of the amendments to the country’s Tax Code, the so-called “offshore law”.

64 voted to override the President’s veto and 1 voted against. The amendments were then voted for with 83 votes in favor and 1 against.

The amendments, passed by the Georgian Dream on April 19, offer a wide range of tax benefits to companies and individuals who decide to move their assets from tax havens to Georgia.

President Salome Zourabichvili vetoed the amendments on May 3. Now that her veto has been overridden, the amendments will come into effect in a few days.