Tuesday, November 29 2011 14:20

Armenian commercial banks will lose privileges when assessing fixed assets


ArmInfo. Parliament of Armenia passed second and final reading of amendments to the Law On Banks and Banking on November 29

In his speech, Deputy Minister of Finance Suren Karayan said the Government suggests no longer providing the commercial banks with the privileges for assessment of fixed assets. At present, banks unlike the real sector of economy have the right to reassess their fixed assets, which finally affects the profit tax base.

With adoption of the given bill, the banks like other commercial structures and companies will use the services of specialized structures. The deputy minister could not say how much profit tax revenues are expected from commercial banks. He came out for formation of a single field for all the economies.
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