Thursday, October 13 2016 20:09
Naira Badalian

Deputy Minister: Tax Code may be amended in accordance with new governmental program

Deputy Minister: Tax Code may be amended in accordance with new  governmental program

ArmInfo. Deputy Minister of  Economic Development and Investments of Armenia Emil Tarasyan did not  rule out the possibility of revising the Tax Code adopted recently by  the National Assembly based on the development priorities of the new  government, he told journalists after the government session today. 

According to him the Ministry received numerous assessments and  opinions expressing concerns related to adoption of the new Tax Code.  Intensive work is being conducted on this issue, the Deputy Minister  assured. "The Ministry of Economic Development and Investments is  currently working on the analysis of the Tax Code to reveal those  provisions, which may become a barrier for the economy development",  Tarasyan stated. Besides, the Deputy Minister assured that the  government intends to revise the entire document until it comes into  force in 2018. "We have been given a task to overview all the "weak"  provisions of the Tax Code, which may have negative impact on the  economy", he noted. Tarasyan said that the Tax Code may be amended in  accordance with the new governmental program. " If the Tax Code is in  line with the program of the new government it will not be amended,  but if not the government will initiate relevant amendments", the  Deputy Minister noted. 

To recall, Armenian National Assembly passed the second reading of  the draft new Tax Code with 79 votes "for," 24 votes "against," and 1  "abstention" on September 29.  The experts and business community  criticized the new Tax Code. One of the reasons of urgent adoption of  the document was IMF's requirement related to providing regular  assistance to the country amounted to $130 mln.

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