Armenian authorities strangling SMEs with new tax duties - protest in  Yerevan

ArmInfo. The Armenian authorities are imposing new high tax duties that are strangling small and medium businesses (SMEs). This statement was made by a group of SME representatives protesting at the Armenian government  building on Republic Square against the new Tax Code that took effect  on January 1 of this year.

The protesters have been demanding a review of  these innovations for  the past two weeks. In a conversation with journalists, SME  representatives expressed their dissatisfaction with the increase in  turnover tax from 5% to 10%.

According to them, this initiative of the Armenian government could  result in the extinction of small and medium businesses in the  country. They are calling for a reduction in the tax rate to 1% and a  reduction in excessive paperwork. The protesters also highlighted the  issue of double taxation, as they will now have to pay a turnover tax   in addition to the duty on imported raw materials. They believe, this  will further threaten the  survival of SMEs in Armenia.