ArmInfo. On June 21, the Armenian government approved the application of Vaba LLC to postpone the payment of VAT for 3 years for imported goods in the period from June 19, 2018 to June 19, 2019. The company, according to the official website of the register of legal entities of Armenia, was founded in November 2002 by Vahram Baghdasaryan (current head of the Republican Party of Armenia faction).
As Minister of Economic Development and Investments of Armenia Artsvik Minasyan stated, presenting the government's decision, for the first time production of such important for agriculture anti-hail nets will be organized on the territory of the republic. According to him, "Vaba" LLC plans to invest 2.25 billion drams in production of anti-hail nets, of which 102.9 million drams are intended to be used to purchase equipment. As a result of the investment program, 24 jobs will be opened with an average salary of 320 thousand drams for the period from 2018-2020. "Vaba" will produce anti-hail nets together with the Italian company "Carmacgroup" in Armenian Vanadzor.
Meanwhile, before the approval of the decision, Prime Minister Nikol Pashinyan asked the Minister whether there is any subjectivism in this decision, and how much this step will help reduce the prices of anti-hail grids in the local market, and increase their affordability to farms. In response, the Њinister noted that the program is evaluated based on the following indicators: multiplier effect on the economy, increase in employment, higher productivity and innovation, export orientation, average salary under the program, as well as compliance with the standards provided for by the law on small and medium business. At the same time, according to Minasyan, the ministry carries out constant monitoring for compliance with the established criteria. In case of violations of earlier obligations, as explained by the head of the Ministry of Economic Development, the ministry issues a warning and the State Revenue Committee enters the "game".
The Armenian Prosecutor General Artur Davtyan, in his turn, stated that the prosecutor's office has already started inspections in this field to reveal violations of state interests in the conditions of granting tax privileges. According to preliminary data of the Prosecutor General's Office, there were a considerable number of companies that used tax benefits, which were declared bankrupt before the expiration of the benefits. "That is, the abuse has been revealed and investigation continues", Davtyan said.
