Thursday, February 15 2018 16:19
Naira Badalian

Armenian government provided another tax benefit to wine company VanSevan LLC

Armenian government provided another tax benefit to wine company  VanSevan LLC

ArmInfo. The Armenian  government granted a tax privilege to the winery company "VanSevan"  LLC - the second time in a month. On February 15, at a meeting of the  Cabinet of Ministers, the company received a deferral for paying VAT  for three years on imported technological equipment.

Tigran Khachatryan, Deputy Minister of Economic Development and  Investments, presenting the draft decision, intends to re-equip the  wine enterprise in the Araks village of the Aragatsotn region within  the framework of the investment program. 148 million drams will be  directed to the re-equipment of the enterprise, the tax privilege in  this case, as explained by the deputy minister, will be extended to  equipment worth 31.5 million drams. Within the investment program, 11  jobs will be created, the average wage will be 200 thousand drams.

Earlier, on February 8, the Armenian government approved the  company's application for exemption from import customs duty on  imported technological equipment, their components and components,  raw materials and materials. It was stated that "VanSevan" invested  150 million drams in the production expansion. Within the framework  of the investment program, 7 new jobs will be created with an average  monthly salary of 160 thousand AMD. In the third year of production,  the company plans to increase the output to 684 million drams, of  which 17 million drams will be sold in Armenia, 152.6 million drams  will be exported to the EEA countries, and 514.4 million drams to  third countries.

According to the state register of legal entities, Vansevan LLC was  founded in May 2015, its founder is Russian citizen Ararat Mkrtchyan. 

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