Tuesday, September 12 2017 10:52
Alexandr Avanesov

A new tax laws  package is designed to promote economic  activity in Armenia, opposition of a different opinion

A new tax laws  package is designed to promote economic  activity in Armenia, opposition of a different opinion

ArmInfo. National Assembly At a meeting on September 12, at the first reading, Armenia made half-changes to the laws "On VAT" and "On taxes".  Vahtang Mirumyan, deputy chairman of the State Revenue Committee, noted in his speech that the package we have been waiting for from the business community for a long time.

It provides for the formation of working capital among business entities, which can be used to expand production and stimulate economic activity in the country. The reporter noted that if this package is adopted, the opportunity to return the value-added tax will be received not only by the exporters of goods from Armenia, but also by persons who deal with VAT accrued on the tax accounts of their suppliers and whose economic activities are not related to exports. When the package enters into force after July 1, 2017, business entities within six months will have the opportunity to apply to the tax authorities for VAT refunds, which they will receive in due course, used for export of products.

However, the initiative of the government did not arouse the enthusiasm of the parliamentary opposition.  So, the MP from the Elk faction ("Exit") Mane Tandilyan noted that the prepayment amount in the form of VAT is a kind of bargaining chip. "We have a practice of demands from tax inspectors who constantly call economic entities and require an advance payment. In other words, in fact, we have a law under which we will refund the prepayment, but tax inspectors will constantly call economic entities, and this practice does not Thus, the working capital, which after the application of this law supposedly should remain with the economic entity, in practice will not remain, "she noted. According to the deputy, tax inspectors often continue their activities in the style: "Well, we have come, we must write some act." "Until this practice is eradicated, such initiatives will remain a simple statement of the provisions of the law on beautiful paper," the parliamentarian said.


News
Iya Malkina: In Q1, the net inflow of mutual direct investments in  the EAEU amounted to $ 663.2 millionIya Malkina: In Q1, the net inflow of mutual direct investments in  the EAEU amounted to $ 663.2 million
EEC Forecast: Economic recovery in Armenia will be completed during  2022EEC Forecast: Economic recovery in Armenia will be completed during  2022
The best vacation destinations in the autumn of 2021The best vacation destinations in the autumn of 2021
Head of Central Bank of Armenia and member of EEC Board discussed  issues of Eurasian integrationHead of Central Bank of Armenia and member of EEC Board discussed  issues of Eurasian integration
"Electric Networks of Armenia" Company starts implementation of  second stage of modernization of electric grid facilities
Armenia to start developing innovative activities in cooperation with  Skolkovo FoundationArmenia to start developing innovative activities in cooperation with  Skolkovo Foundation
Tigran Khachatryan appointed Governor from Armenia in Boards of  Governors of World Bank and Asian Development BankTigran Khachatryan appointed Governor from Armenia in Boards of  Governors of World Bank and Asian Development Bank
FinRating ArmInfo: Profits of Armenian banks stagnate under the  burden of growing NPLsFinRating ArmInfo: Profits of Armenian banks stagnate under the  burden of growing NPLs
Overchuk: The unblocking all economic and transport links in the  region will increase the trade turnover between Armenia and RussiaOverchuk: The unblocking all economic and transport links in the  region will increase the trade turnover between Armenia and Russia
On October 20, REC organizes a business mission for Russian  manufacturers to ArmeniaOn October 20, REC organizes a business mission for Russian  manufacturers to Armenia
Andrey Sinyakov: We consider the completion of the second stage of the modernization project of the Agarak Copper-Molybdenum Combine as a serious anti-crisis measureAndrey Sinyakov: We consider the completion of the second stage of the modernization project of the Agarak Copper-Molybdenum Combine as a serious anti-crisis measure
Iranian entrepreneurs are interested in opening joint ventures with  Armenia in a number of areasIranian entrepreneurs are interested in opening joint ventures with  Armenia in a number of areas
Major Armenian-Russian business forum to be held in YerevanMajor Armenian-Russian business forum to be held in Yerevan
Gyumri Shirak Airport is ready to serve European budget flightsGyumri Shirak Airport is ready to serve European budget flights
Mher Grigoryan reports on certain difficulties in negotiations with  GazpromMher Grigoryan reports on certain difficulties in negotiations with  Gazprom
Standing Parliamentary Committee on Financial-Credit and Budgetary  Affairs approved Artak Manukyan`s candidacy for the position of  member of the Central Bank CouncilStanding Parliamentary Committee on Financial-Credit and Budgetary  Affairs approved Artak Manukyan`s candidacy for the position of  member of the Central Bank Council
Mher Grigoryan: In terms of the opening of railways, solutions began  to be consideredMher Grigoryan: In terms of the opening of railways, solutions began  to be considered
GeoProMining  announces  completion of the second stage of Agarak CMC  modernization project GeoProMining  announces  completion of the second stage of Agarak CMC  modernization project 
IMF sharply improved its forecast for GDP growth in Armenia for 2021 to 6.5%, but warns: IMF sharply improved its forecast for GDP growth in Armenia for 2021 to 6.5%, but warns: "Downside risks remain elevated" 
Economy Minister considers Central Bank`s updated economic forecasts  as pessimisticEconomy Minister considers Central Bank`s updated economic forecasts  as pessimistic
Armenian government to allocate about 357.5 million drams to complete  15 subvention programsArmenian government to allocate about 357.5 million drams to complete  15 subvention programs
Economy Minister on the situation with Iranian trucks: We have a  Economy Minister on the situation with Iranian trucks: We have a  "Plan B"
 Armenian accountants and auditors can grow professionally with help  of British Association of Chartered Certified Accountants Armenian accountants and auditors can grow professionally with help  of British Association of Chartered Certified Accountants
Armenian government approves the ratification of the Agreement of the  CIS countries in the fight against IT crimesArmenian government approves the ratification of the Agreement of the  CIS countries in the fight against IT crimes
Armenia and Singapore exclude double taxationArmenia and Singapore exclude double taxation
Government of Armenia ratified the agreement between the governments  of the Republic of Armenia and the Republic of Malta on the avoidance  of double taxationGovernment of Armenia ratified the agreement between the governments  of the Republic of Armenia and the Republic of Malta on the avoidance  of double taxation
The leadership of SRC of Armenia at a meeting with the head of the  FCS of the Russian Federation noted the special importance of  enhancing contactsThe leadership of SRC of Armenia at a meeting with the head of the  FCS of the Russian Federation noted the special importance of  enhancing contacts
American company Wabtec shows interest in the Armenian market American company Wabtec shows interest in the Armenian market 
Deputy Prime Minister on a possible increase in gas prices: Gazprom  insists that the amount of profit stipulated in the 2013 agreement  does not satisfy themDeputy Prime Minister on a possible increase in gas prices: Gazprom  insists that the amount of profit stipulated in the 2013 agreement  does not satisfy them
Drip irrigation. 5 questions and answers with Converse BankDrip irrigation. 5 questions and answers with Converse Bank
World Bank`s updated Groundswell report warns: Climate change could  force 216 million people to migrate within their own countries by  2050World Bank`s updated Groundswell report warns: Climate change could  force 216 million people to migrate within their own countries by  2050
Expert: The unprecedented rise in gas prices in Europe and EAEU  membership open new opportunities for ArmeniaExpert: The unprecedented rise in gas prices in Europe and EAEU  membership open new opportunities for Armenia
Central Bank of Armenia: In Jan-July 2021, the net inflow of  transfers from individuals increased by 78.5% per annumCentral Bank of Armenia: In Jan-July 2021, the net inflow of  transfers from individuals increased by 78.5% per annum
Efforts are underway to enhance seismic safety at Armenian NPPEfforts are underway to enhance seismic safety at Armenian NPP
EEC Forecast: In 2022, the negative foreign trade balance in the EAEU  will be reduced from $ 5.8 billion to $ 2.5 billion EEC Forecast: In 2022, the negative foreign trade balance in the EAEU  will be reduced from $ 5.8 billion to $ 2.5 billion 
Central Bank of Armenia: Consistent tightening of monetary conditions  has a sufficient impact on the regulation of progressive consumer  demand and on curbing of  inflationCentral Bank of Armenia: Consistent tightening of monetary conditions  has a sufficient impact on the regulation of progressive consumer  demand and on curbing of  inflation
Central Bank upgrades Armenia`s economic growth forecast for 2021 to  5.6%Central Bank upgrades Armenia`s economic growth forecast for 2021 to  5.6%
Central Bank Governor: Inflation in Armenia is more supply-drivenCentral Bank Governor: Inflation in Armenia is more supply-driven
Central Bank: Transfers from USA to Armenia are growing rapidlyCentral Bank: Transfers from USA to Armenia are growing rapidly
Armenia and Ukraine launched the improvement of trade and economic  relationsArmenia and Ukraine launched the improvement of trade and economic  relations
Official and real y-o-y inflation continues to accelerate in ArmeniaOfficial and real y-o-y inflation continues to accelerate in Armenia
Central Bank of Armenia once again raised the refinancing rate - from  7% to 7.25%Central Bank of Armenia once again raised the refinancing rate - from  7% to 7.25%
About 2 billion drams to be allocated for the installation of  photovoltaic stations in seven regions of ArmeniaAbout 2 billion drams to be allocated for the installation of  photovoltaic stations in seven regions of Armenia
"Veolia Djur" proposes to increase water tariff by 43.7 drams
Mher Grigoryan: Trade and economic relations between Armenia and  Ukraine have great potential for developmentMher Grigoryan: Trade and economic relations between Armenia and  Ukraine have great potential for development
"Become a shareholder": ACBA Bank issued its first 500.000 shares  with a total volume of 7.5 billion drams
IDBank as a sponsor of the charity concert IDBank as a sponsor of the charity concert "Armenian Rock for Children with Cancer"
As of September 10, 2021, tax collection exceeded indicators of  pre-crisis 2019 by 4.9% in ArmeniaAs of September 10, 2021, tax collection exceeded indicators of  pre-crisis 2019 by 4.9% in Armenia
The collector coin dedicated to the 30th anniversary of the Republic  of Armenia has been issued by Central BankThe collector coin dedicated to the 30th anniversary of the Republic  of Armenia has been issued by Central Bank
Minister of Finance of Armenia and Ambassador of India discussed  possible directions for development of cooperationMinister of Finance of Armenia and Ambassador of India discussed  possible directions for development of cooperation
 Construction of Construction of "Friendship Bridge" on Armenian-Georgian border is in  full swing
Armenia reduced exports of molybdenum, zinc and copper concentratesArmenia reduced exports of molybdenum, zinc and copper concentrates
Armenia increased export of all alcoholic beverages produced in  countryArmenia increased export of all alcoholic beverages produced in  country
Armenia significantly increased volume of exports and imports of  fruit and berry cropsArmenia significantly increased volume of exports and imports of  fruit and berry crops
Armenia in H1 2021 increased grape exports by 66.7% Armenia in H1 2021 increased grape exports by 66.7% 
Regular meeting of Armenian-German intergovernmental commission took  place in BerlinRegular meeting of Armenian-German intergovernmental commission took  place in Berlin
Exclusive opportunity for VISA Signature cardholders of Converse BankExclusive opportunity for VISA Signature cardholders of Converse Bank
Armenia significantly reduced sugar importsArmenia significantly reduced sugar imports
Imports of oil products to Armenia grew by 3.7% in the first half of  2021Imports of oil products to Armenia grew by 3.7% in the first half of  2021
Armenia continues to reduce imports and exports of passenger carsArmenia continues to reduce imports and exports of passenger cars
Read more


Exchange rates
22.09.2021
RUB6.65-0.03
USD484.23-0.70
EUR567.95-3.44
GBP660.20-8.23
CAD378.63-4.62
JPY44.220.12
CNY74.85-0.30
CHF524.851.73