ArmInfo. The government of Armenia on September 12 during the regular meeting provided benefits to 4 companies for exemption from customs duties and delay in VAT payments.
In particular, the Cabinet of Ministers granted the application of the individual entrepreneur Irina Kochoyan for exemption from customs duties when importing technological equipment, components, raw materials and (or) materials as part of the investment program. Imported raw materials will be used in the manufacture of clothing. Production is organized in the city of Hrazdan, Kotayk region of Armenia. Within the framework of the investment program, it is planned to purchase new equipment for 80 million drams and another 581 million drams will be used to purchase raw materials. The privilege on exemption from customs duty will be 49.5 million drams, more than 600 thousand drams in the form of taxes will not be paid to the budget. At the moment, 35 jobs have been created at the enterprise; within the framework of the investment program, it is planned to create another 15-20 jobs with an average monthly salary of 70-80 thousand drams. The planned production volumes will amount to about 600 million drams, of which 450 million drams will be sold in Armenia, 150 million drams in other EAEU member countries.
ANIPLAST LLC, which is engaged in the production of PVC food wrap, for food packaging in the city of Ashtarak in the Aragatsotn region of Armenia, received a similar benefit. It is expected that within the framework of the investment program, about 1.4 billion drams will be invested, of which about 300 million drams have already been invested. The company already has 33 employees. Another 20 new jobs will be created with an average monthly salary of 150 thousand drams. The planned volume of products is estimated at 1.6 billion drams, which will be fully sold in Armenia. The cost of raw materials applying for a benefit is estimated at about 620 million drams, the benefit will be about 47 million drams, the budget will be deprived of about 570 thousand drams in taxes. The government also approved the application of CJSC "ARIKO-GOR" for exemption from customs duties. Imported goods will be used in the production of notebooks and albums in the city of Abovyan, Kotayk region. As part of the investment program, the company plans to invest about 460 million drams for the purchase of raw materials and new equipment. The company employs 13 people and is expected to create another 6-9 new jobs with a salary of 100 thousand drams on average. The total volume of products will be 185 million drams, all products will be sold in Armenia. Imported raw materials are estimated at 260 million drams, the privilege will be 13 million drams, in the form of taxes the state treasury will not receive less than 180 thousand drams.
ARMPOWER CJSC received a benefit in the form of a deferment from VAT payments for three years for imported goods. The company plans to build and operate a power plant with a combined cycle with a capacity of 250 MW. The company is ready to direct 124 billion drams for the purchase of modern equipment. Within three years, it is expected that 704 new jobs will be created with an average monthly salary of 256.4 thousand drams (under construction) and another 106 with a salary of 545.4 thousand drams (during operation).