Thursday, September 7 2017 17:03
Naira Badalian

Newcomer - manufacturer of wet wipes will receive a tax credit from the government of Armenia

Newcomer - manufacturer of wet wipes will receive a tax credit from  the government of Armenia

ArmInfo. The Armenian company  "Keir Group" received a deferral of VAT for 3 years to import new  equipment. The resolution on this was adopted at a government meeting  on September 7.

According to the Minister of Economic Development and Investments of  Armenia Suren Karayan, the company intends to engage in the  production of cotton, cotton products and wet wipes. To this end,  "Kair Group" LLC is going to invest about 720 million AMD (about $  1.5 million). The phased implementation of the investment program is  planned: at the first stage, the cost of the acquired equipment will  be about 170 million and 90 new jobs will be created with an average  salary of 120,000 in 2018, 140,000 in 2019 and 160,000 in 2020.

ArmInfo's search for more objective information about the company on  the network was not successful, except for what can be found on the  website of the Agency of the State Register of Legal Entities of the  Ministry of Justice of the Republic of Armenia. The founders of the  company, which was created quite recently - May 22, 2017, and to  which the Cabinet granted a tax credit, are Levon Saginyan and Elena  Mikaelyan. 

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