Monday, December 3 2018 13:46

ArmInfo. The election "My step" bloc presented the main priorities of economic policy. "A necessary pillar for the progress of the country's economy is targeted reforms aimed at" branding "Armenia in the foreign market", Acting Deputy  Prime Minister Tigran Avinyan notes. 

The consistent development of our own potential and access to foreign  markets with competitive products, according to the program, has no  alternative for Armenia with its small volumes of the domestic  market.  "Armenia should be guided by a model of economic growth  based on stimulating capacity for entering foreign markets", the "My  step" reads.

In this regard, the pre-election ''My Step'' bloc plans to reduce the  administrative burden, eliminate adjustments that hinder the growth  of entrepreneurship, simplify tax and customs policies, expand  exports, and invest in infrastructure.  Towards the achievement of a  given goal, a number of activities will be undertaken. Firstly, all  bureaucratic restrictions for the forming, development and  disbandment of a business will be eliminated; reduced the process of  connecting electricity, water supply through the creation of a  "single window"; the process of granting town-planning permits will  be organized using an electronic system, while excluding any contact  between the applicant and the civil servant; The commercialization of  intellectual property will be enhanced through improved legislation.

The tax policy of the Republic of Armenia will be aimed at increasing  the investment attractiveness of the country and the formation of a  predictable business environment; For the formation of a favorable  investment environment, effective income tax rates will be reduced  (from 2019 a flat scale of 23% will be established, which will be  reduced to 20% by 2023), income tax (from 20% to 18%) and dividends  (5% for both residents and non-residents).

The tax burden will be gradually shifted to "the solvent taxpayer, in  particular, property tax will be calculated on the basis of its  market value and taking into account the consolidation of the value  of individual property units owned by this taxpayer. Luxury tax" will  be supplemented with the principle of social justice, in order to  avoid double taxation, the list of countries with an appropriate  legal framework will be expanded; the regulatory field against  transfer will be provided With a targeted tax policy and a  differentiated approach (tax zoning), ''My Step'' hopes to stimulate  the formation of communities outside of Yerevan, in particular,  border areas. A system of encouraging a conscientious taxpayer will  be established; simplifying customs administration will create  attractive conditions for an international investor transition "from  reference prices" to the invoice value of the goods.

The authors of the document also plan to improve the capabilities of  the State Commission for the Protection of Economic Competition in  the Republic of Armenia. Armenia will also consistently improve its  position in international rankings on economic growth; the  corresponding conditions have been formed for the development of  SMEs. In particular, a business with an annual turnover of up to 20  million drams will be exempt from all types of taxes.  Continued  post-investment monitoring of programs will also be provided in order  to respond quickly to identified problems.