ArmInfo. In order the new tax legislation has efficient impact on development of small and medium entrepreneurship in Armenia the country should ensure higher rates of economic growth, Hakob Avagyan, Chairman of the SME Cooperation Association NGO, expressed this opinion in a talk to ArmInfo. Otherwise the expert thinks that the revision of the tax legislation is fraught with consequences for SME, which is already in difficult condition.
In this context Avagyan noted that according to the conducted surveys no positive trends have been registered in SME development during the recent three years. Thus, according to him from the total number (91 264) of active taxpayers 70% or 63 677 are SME, which ensure only 1% of tax inflows into state budget. The expert brought another negative factor for SME noting that 50% of the entrepreneurs are engaged in trade and the business is mainly concentrated in the capital.
"All the factors I have mentioned are a serious reason for concern. The role of SME is significant for the economy's development. I can state that our economy is not ready yet for the reforms proposed by the new tax legislation", he summarized.
To note, according to the official data as of today there are more than 50 thousand micro and small, and more than 10 thousand medium enterprises. The share of SME in the country's GDP has reduced to 30% (versus the previous 42%).
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