ArmInfo. The Armenian Government suggests introducing tax amnesty in the country. On December 14, the National Assembly adopted a draft law "On tax privileges regarding revenues controlled by the taxation body" in the first reading.
Deputy Head of the State Revenue Committee Vakhtang Mirumyan said that the draft law suggests exempting self-employed people of taxes. This category includes private entrepreneurs, whose annual turnover does not exceed 9 mln AMD and who have no hired employees. So, the Government is trying to boost the private entrepreneurship. In addition, the Government intends to exempt the private entrepreneurs from the minimum income tax and minimum compulsory social payments, as well as from fines and penalties. One more novelty concerns individuals' sale transactions regarding two or more pieces of property within a year, which are subject to VAT taxation. After the relevant law is adopted, the specified persons will have 90 days to repay the main part of the debt formed before 30 Sept 2016. Afterwards they will be exempted from penalties and fines. Mirumyan also suggested postponing introduction of the new generation cash registers from 1 Jan 2017 till 1 Jan 2018, and launching e-provision of excise stamps on 1 Jan 2017.
