YEREVAN. – The two non-government National Assembly (NA) factions (Armenian National Congress (ANC), Prosperous Armenia (PAP) on Monday will launch a signature campaign in the parliament.

The signature campaign will call for the withdrawal of the new Law on Turnover Tax, and its proposed amendments’ consideration in a special NA session.

MPs Mikayel Melkumyan (PAP), Aram Manukyan (ANC), and Tigran Urikhanyan (PAP) informed the aforesaid to capital city Yerevan bazaars’ merchants, who on Monday have assembled outside the NA building to protest the new law.

But  they need at least 44 signatures to convene the respective special NA session, and will address Heritage and ARF for help.

Pursuant to the proposed amendment, the law will enable the merchants to choose between either working with the old law, giving a 3.5 percent turnover tax, and refraining from documentation, or working with the new law, giving a one percent turnover tax, but carrying out documentation.

The Yerevan bazaars’ merchants have staged several protests outside the Government Building, and demanded that the aforesaid new law be withdrawn.

Pursuant to the new amendments in the Law on Turnover Tax, which will come into force on Wednesday, 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.