Wednesday, June 13 2018 16:00
Alexandr Avanesov

Armenia`s Ministry of Finance initiated discussions on tax  legislation change 

Armenia`s Ministry of Finance initiated discussions on tax  legislation change 

ArmInfo. The Ministry of Finance of Armenia initiated discussions on changes in the tax  legislation of the country. The head of the department Atom Janjughazyan stated at the National Assembly on June 13 during the presentation of the report on the implementation of the state budget in 2017.

As he said, now there was a necessity for reduction of the tax  legislation in conformity with realities. In particular, it is about  reducing the rates of direct taxes, but this does not mean a  reduction in the share of taxes in the country's GDP. "This is the  right way," the minister said, adding that this measure will help to  activate the economy and attract additional investments. At the same  time, Atom Janjughazyan urged not to rush things until the  discussions are over and a corresponding decision is made. Moreover,  the reduction in tax rates may have the opposite effect, as today  direct taxes are often hidden, and if the rates go down, then the tax  base may rise.

Nevertheless, two days earlier, the current minister and recently  retired colleague Vardan Aramyan, in an interview with the  correspondent of the Armenian National Congress, ArmInfo believes  that the beginning of 2019 is the most likely time for review, for  example, of income tax rates. He said that in the context of  clarifying the country's tax policy in July, a technical assistance  group of the International Monetary Fund (IMF) will arrive in  Armenia. According to the ex-head of the Armenian Ministry of  Finance, representatives of the IMF in the framework of promoting  economic growth of the RA will once again study, "rethink" the tax  policy of the republic. It was with the technical assistance of the  IMF that Armenia developed the Tax Code, and also revised the  country's fiscal rules. In the course of the visit, as Aramyan  pointed out, within the framework of fine-tuning the tax policy in  the medium and long term, the parties will also touch on the  possibility of revising the income tax and turnover tax in Armenia.

The work on the "rethinking" of the Armenian Tax Code, adopted not so  long ago - in September 2016, will last at least 3-4 months. The main  vector of changes, according to Aramyan, will be directed towards  increasing indirect taxes (VAT, excise tax) and reducing direct  (labor and capital). In this context, according to Aramyan, the most  likely period for reviewing the rates of income tax falls at the  beginning of next year.

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Government Bonds

 

ISIN AMGB1029A250
Auction ID AMGB1029A250A
Date 12.05.2017
Issue date 29.10.2015
Issue volume (AMD) 50 000 000 000
Maturity date 29.10.2025
Coupon year yield 11.00%
Auction volume (AMD) 1000 000 000 - 2.000 000 000
Auction date 12.05.2017
DLS
Total amount (AMD) 1 000 000 000
Amount of the total bids (AMD) 787 200 000
Amount of the total accepted bids (AMD) 787 200 000
Cut of yield (%) 10,6447
Weighted avrage yield (%) 10,6447
Auction max  yield (%) 10,6447
Auction min  yield (%) 10,6447
Number of participants 5
ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000

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