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YEREVAN. – The shortcoming of Armenia’s Law on Turnover Tax is that the large taxpayers will not provide to the small taxpayers documents on the sale of products, and the small taxpayers will suffer from this.

Stepan Aslanyan, chairman of the Armenian Union of Small Entrepreneurs, stated the above-said at a press conference on Saturday.

“If the turnover tax is such a good thing, why is it that thousands of entrepreneurs are against [it]? The problem has to do with documentation because large taxpayers definitely will not provide documents to the small ones,” he noted.

In Aslanyan’s words, even though the small and medium-sized businesses in Armenia do not evade paying taxes, these changes will hurt only them and many of them will not work once this law comes into force.

“Our economy is small, and there is virtually no competition here. The large taxpayers simply want to drive out the small and medium-sized entrepreneurs so that they control the whole market,” Stepan Aslanyan maintained.

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.


 

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