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Official News

Wednesday, 21 November 2012

SME Development Council Reviews Tax Law Amendments

Chaired by Prime Minister Tigran Sargsyan, the SME Development Council held an extraordinary meeting in the Office of Government.

The Council discussed the impact of tax law amendments on SME environment. In this context, the Prime Minister said, “You may know that a new legislative package is being discussed in an effort to improve the tax laws applicable to small and medium businesses. We have tried to include such provisions as are consistent with the wishes and needs of small and medium-sized businesses and should better the business environment and tax administration. On the agenda are those key points included in this legislation.”

Deputy Minister of Finance Suren Karayan and Deputy Head of State Revenue Committee Vakhtang Mirumian provided details of the following amended laws: “On turnover tax,” “On value added tax,” “On profit tax,” “On income tax,” “On taxes,” “On the use of cash-registers,” “On organizing and conducting inspections,” “On operational intelligence activity,” “On accounting,” “On mineral resources,” “On licensing,” “On State duty,” “On environmental payments,” “On road fees,” “On public utility regulatory fees,” “On excise tax,” “On cash-register transactions,” “On trade and services,” “On tax and mandatory social security payments of benefits.”

The meeting also discussed amendments to the Customs Code.

The heads of non-governmental organizations representing the interests of SMEs expressed satisfaction at the proposed package of amendments and made some comments.

Summarizing the meeting, the Prime Minister said that the proposed changes imply legislative adjustments aimed at easing the tax burden, reducing red tape and facilitating SME activities.

The Prime Minister told the representatives of the agencies concerned to discuss with NGOs the proposals made during the meeting in order to submit a finalized version of the package.

November 2020