Thursday, March 17 2016 13:11

ArmInfo. On March 17, the Armenian Parliament amended in the second and final reading the Law "On VAT". The amendments imply cancellation of VAT on import of cars from the Eurasian Economic Union (EEU) member states.

Chairman of the Parliamentary Committee on Economic Issues Vardan Ayvazyan said that the bill is dictated by the need to cancel the VAT for the cars imported by individuals from the EEU. The bill is to come into effect on March 20- 21.    

On February 8, Tatyana Valovaya, Member of the Eurasian Economic Commission Board - Minister in charge of Development of Integration and Macroeconomics, said that imposing 20% VAT on the individuals importing cars to Armenia from the EEU member states runs counter to the legal and contractual framework of the organization. "There are no de jure non-tariff barriers within the EEU. We had such a barrier in Kazakhstan, but it was removed. Now we experience a similar barrier in Armenia," the minister said.