RA State Revenue Committee has established the procedure for exemption from payment of fines for business entites that have arrears in taxation

ArmInfo. The State Revenue Committee under the RA government approved the procedure for exemption from payment of fines for business entities with arrears of taxes. Arman Poghosyan, head of the administration of methodology of administration, procedures and servicing of SRC, told this during a press conference on October 13.

"Realizing which debt burden for an economic entity is fines, we made certain legislative changes," he stressed. Poghosyan explained that economic entities that have tax arrears are exempted from paying fines in the event that they submit to the tax authorities previously undeclared tax liabilities. "Only the bulk of the debt is subject to payment," he said.

In particular, Poghosyan noted that these changes have already benefited both physical and legal persons.  To name the number of citizens who, under this initiative, were exempt from payments, the representative of the SRC found it difficult. "The results of the program have not been summed up yet," he said.