Armenia to categorize penalties for violating cash register usage  rules

ArmInfo.  Armenia wants to categorize penalties for violating cash register usage rules (CRS).  The draft law was presented by the Minister of Economy, Gevorg Papoyan, during a meeting of the Parliamentary Standing Committee on Economic Issues.

He said that the draft proposes to maintain the previous penalties  for business entities, who, for instance, fail to include the TN VED  (Commodity Nomenclature of Foreign Economic Activity) code on cash  receipts, provide inaccurate pricing or quantity information, leave  out service codes and names, or fail to issue receipts at all. These  violations will continue to result in fines of 200,000 drams and 0.5%   of the turnover from the previous quarter (not exceeding 10 million  drams).

The state also aims to reduce the severity of penalties for  entrepreneurs who followed the rules for using the CRS, but  mistakenly indicated the wrong classifiers on the receipt. In such  cases, the state will issue a warning to the business  representatives. However, if the same violation occurs again within  the next year, the legal entity is obliged to pay a fine of 50,000  drams.  As Papoyan noted, this proposal is aimed at creating a more  predictable environment for the SME sector.  <We expect that a fairer  model of penalties, more understandable for taxpayers will be  created,> he said.