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.