Gevorg Papoyan on the situation with SMEs in jewelry industry: there  is a lack of information

ArmInfo. Some complaints from SMEs in the jewelry industry are objective, while in other cases , a lack of information is a key issue. Armenian Minister of Economy Gevorg Papoyan told journalists about this during a briefing on  February 6.

He noted that at the moment, the Ministry is holding another meeting  with industry representatives to address concerns and provide  necessary explanations.  Papoyan provided an example where as a  result of discussions, certain businesses  realized they would pay  lower taxes under the new system, than they currently do. To achieve  this, they need to obtain additional documents from partners. In this  context, Papoyan noted a lack of communication, which the opposition  is using to cast many of the government's innovations in a negative  light.

Recall that on January 1, a law increasing the turnover tax for SMEs  from 5% to 10% took affect in Armenia. This decision has sparked  discontent among entrepreneurs, leading to regular protests near the  government building calling for the repeal of the law. Many fear that  this change could ultimately lead to the extinction of small and  medium businesses in the country.  Note that on February 7, the  National Assembly of Armenia is set to hold discussions on tax issues  related to small and medium businesses.