ArmInfo. In the city of Gyumri, Shirak region of Armenia, the implementation of the investment program for the building of textile production continues. At a meeting on January 24, the RA government approved the application of "R. Zakaryan" NGO to postpone the payment of VAT for three years in order to import the necessary raw materials.
According to the Minister of Economic Development and Investments of the Republic of Armenia, Tigran Khachatryan, the executive body already has at its disposal similar benefits, but in the case when it comes to exemption from VAT for three years for equipment. Then the investment value was 1.76 billion Drams, of which 320 million Drams were purchased equipment, exempted from VAT. The cost of purchases in drams will be 1.42 billion drams. It is these raw materials that will fall under the new tax break. The minister stressed that the number of people employed in the program increased to 88 people, and their average salary was 105 thousand drams.
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