YEREVAN. – Owing to Prime Minister Hovik Abrahamyan’s policy and changes in tax policy, the tax burdens of Armenia’s small and medium-sized businesses will ease.
Ruling Republican Party National Assembly Faction member Manvel Badeyan, who is also founder of a large enterprise, told the aforementioned to Armenian News-NEWS.am.
In his view, the abovementioned tax changes are aimed at keeping the money in people’s hands.
“We are not resolving a budget issue. On the contrary, the budget will suffer, but we are taking that step.
“For the most part, this [change] solves social problems. They are trying to create the best possible conditions for the small and medium-sized entrepreneurs.
“[But] it is clear that this [change] must be somehow compensated at the expense of those who don’t solve social problems; that is, our businesses, but within the confines of the law. It’s just that it’s a more rigid management [now],” Badeyan stated, in particular.
Armenia’s small and medium-sized business owners were holding demonstrations for days and protesting the Law on Turnover Tax.
Pursuant to the Law on Turnover Tax, which will come into force on October 1, a business enterprise will be warned at first, and, subsequently, it will be fined for not submitting a document on its commodity circulation. The large businesses, however, often do not provide documents to the small and medium-sized enterprises concerning the products.
