Importers of mechanical and electrical machinery and mining materials can be exempted from VAT

ArmInfo. "Today, the bill on VAT exemption of business entities importing mechanical and electrical machinery and mining raw materials is submitted to the National Assembly for consideration," Arman Poghosyan, Head of the Department for Methodology of Administration, Procedures and Services of SRC, said at a press conference on October 13. "Thus, we want to give the opportunity to business entities at the start of activities to more effectively use their working capital," he said.

However, this draft law provides for the implementation of investment programs approved by the government, the calculation of depreciation charges on the acquired, imported or created for these resources fixed assets in the preferred timeframes business entities, but not later than within 1 year. "These steps will help improve the investment environment, and will attract new investments," Poghosyan stressed.