Tuesday, June 26 2018 12:08
Naira Badalian

Nikol Pashinyan: In a number of cases after paying fines and  penalties the borrowers will be allowed to take new loan 

Nikol Pashinyan: In a number of cases after paying fines and  penalties the borrowers will be allowed to take new loan 

ArmInfo. The changes have been initiated in the Tax Code of Armenia so that the banks write off fines and penalites for overdue loans, Prime Minister of Armenia Nikol Pashinyan stated yesterday answering to quesitns of Facebook  users. 

According to him, earlier, in the conditions of the previous - the  unchanged Tax Code, if the credit institution had written off an  overdue debt to some borrower, it would be considered as an income,  and the bank would have to assume tax obligations. "Now we have  changed the law so that there are no tax liabilities for banks, so  that they are interested in writing off fines and penalties, and  begin negotiations with the borrower to solve the problem," the Prime  Minister explained, adding that "the government and parliament took  their step and now it is the banks' turn . "

According to Pashinyan, in a number of cases, if the residual  obligations of borrowers are small, their credit histories will be  cleared, and they will have an opportunity to take a new loan. "I  understand that this is not a full-fledged decision, but it's a step  towards real facilitation of the situation." I share your concerns,  but we can not ignore the stability of the banking system - we must  solve the problem in a balanced manner, "the Armenian Prime Minister  said.

The Armenian parliament at an extraordinary meeting on June 21 in the  second and final reading approved amendments to the tax legislation  aimed at improving the business environment, increasing tax  administration and combating shadow economy. According to RA Deputy  Minister of Finance Arman Poghosyan, it is envisaged, in particular,  to provide commercial banks and credit organizations with the  opportunity to write off penalties and fines for arrears in unpaid  loans. Amendments relate exclusively to individuals whose loans were  considered bad until May 31, 2018. At the same time, commercial banks  will be allowed not to pay tax on profits from those fines and  penalties, from which they will refuse. At present, they do not have  such a right, paying a tax on profits, regardless of whether the fine  is collected or not. For individuals, another amnesty is provided  related to non-payment of VAT in transactions involving the sale of  cars, apartments, houses, industrial, public and other premises. This  category of citizens will be exempted from payment of fines and  penalties if within 90 days from the moment the law comes into force,  the citizen will pay the main amount of tax. 

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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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