ArmInfo. Sahlevs LTD, Green Power LTD, Farmatek will receive tax benefits in the form of delay in the payment of VAT, the decision on this was adopted during Government session on May 18.
According to Armenian Minister of Economy Development and Investments Suren Karayan, Sahlevs LTS intends to invest 170 million AMD to launch the production. Within the investment program, the Government of Armenia postponed the term of the value added tax payment credited by the tax and customs authorities while importing technological equipment, their components and primary products for three years. The company intends to rearrange the production of lighters, the volume of the planned production will total 230 million AMD, 130 million AMD from which will be sold at the territory of Armenia, the export to EEU countries will be 80 million AMD, and another 20 million AMD to third countries. As a result, more than 20 new jobs will be created.
According to Government session another decision, the similar tax benefit will be given to Farmatek in pharmaceutical field. Within the investment program, according to Suren Karayan, it is planned to import equipment and raw materials. The expected volume of production will total 2 billion 800 million AMD. The investments will form 900 million AMD, 9-10 new workplaces with an average salary of 160 thousand AMD will be created.
For three years, the payment of VAT on imported products for Green Power LTD has been postponed. As a result, in Armenian Syunik area, a small hydropower plant with 3.5 MW power will be built in the Meghri community. The planned volume of investments will total 1bln AMD, of which 311.4mln AMD - for equipment. The program will create 13 new jobs with an average salary of 82 thousand AMD.