Government to be penalized for default
A cabinet sitting was held, chaired by Prime Minister Tigran Sargsyan. The government approved the procedure to follow in paying fines and penalties for delays in the refund of overpayments and/or other amounts. A first-ever estimate of penalties due for the period up to January 1, 2011 will be out by May, 1, 2011. Stating that the government is thereby going to apply stricter sanctions for VAT refund arrears, Tigran Sargsyan noted that no incidences of VAT refund delays or non-payments... more »
