SME Development Council to form working group for legal solution of  problems in field

ArmInfo. The Small and Medium Enterprise Development Council decided to form a working group with the involvement of all interested parties to develop draft laws to  solve existing problems in the field of SMEs, which will be submitted  to the government for consideration. This was reported by the press  service of the Ministry of Economy, referring to the results of the  meeting of the Council.

According to the source, the participants of the meeting discussed  and analyzed the proposals submitted by the members of the Council  related to leasing transactions and simplification of the liquidation  of legal entities.  

In particular, the Council proposed to make certain changes to  leasing procedures related to the alienation of the property of  individuals in the future for the provision of leasing and  registration of certain types of property in the Cadastre.  

The participants also discussed a simplified procedure for the  liquidation of legal entities that have not carried out activities  for 5 or more years and do not have tax liabilities. This will allow  the latter, not having professional knowledge in the legal field  without excessive administration, to carry out the liquidation of  their activities.  

According to the source, the meeting was attended by Council members  invited from the Ministry of Finance, the Ministry of Justice, the  State Revenue Committee, the Cadastre Committee, as well as from  financial institutions that are leaders in the leasing market, as  well as representatives of the Business Support Office (BSO),  financed by the EBRD and the Good Governance Fund the UK government.   To recall, the SME Development Council was established in 2011 by the  decision of the Prime Minister of the Republic of Armenia.