Thursday, March 10 2011 16:03

Armenian Finance Ministry provides 60 loans for customs clearance of cars


ArmInfo. The Armenian Finance Ministry has provided 60 loans worth a total of 70 mln AMD (nearly 192 thsd USD) for customs clearance of cars, Finance Minister Vache Gabrielyan said at today's sitting of the Armenian Government.

Earlier the minister reported that the Government allocated 300 mln AMD for this purpose. The loans will be provided before 26 March 2011 to those citizens who imported cars and are unable to pay off the customs duties. On 5 February 2011 the amendments to the Armenian Customs Code canceling the customs regime of "temporary import" came into force. (This preferential regime exempted the citizens from customs registration of the cars for up to a year, and many citizens abused this regime). The average amount of one loan is 1.2 mln AMD, or 3.2 thsd USD. The value of the cars to get customs clearance is not to exceed 5 mln AMD (up to 14 thsd USD), and the cars are not to be produced earlier than in 2005.

The customs duty for an imported car ranges from 32% to 50%. Armenian Prime Minister Tigran Sargsyan said that 1800 more car owners will also receive a state loan. "I think the number of people wishing to receive a loan will increase", said the premier. The non-interest state loan is provided for 6 months.
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