International Business Relations Support Council head criticizes tax  hike for SMEs

ArmInfo. The world is moving towards development, and countries like ours should emulate those who  create opportunities and streamline conditions for the growth of small businesses. This was stated by Mariam Manukyan, the head of the Council for International Business Relations Support, during a press  conference on February 7.

In this regard, she cited the example of the UAE, which exempts small  businesses from the tax burden for 5 years and provides additional  resources for growth. Manukyan noted that today processing  enterprises in Armenia have large loans with high rates, in addition  to being burdened with several issues related to production volumes,  exports, logistics, licensing, etc., while the state continues to  increase taxes. "I understand that we have external and internal  challenges, but at the same time we have the will and determination  to develop the economy. And if we do not do act today, we will  struggle to overcome challenges and remain competitive in the  international arena," Manukyan emphasized.