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YEREVAN. – Armenia should reduce tax base of VAT for jewelry industry, head of Yerevan Jewellery Plant Abgar Mkrtchyan said during consultations at Economy Ministry.

It is necessary to take into account that only 10 - 15% of the cost of the jewelry is formed in Armenia, while the rest is the imports of gold and stones.

“If so, why do we pay VAT? Let's allow us paying only 15% of the added value that is formed inside Armenia,” Mkrtchyan said.

But the argument was not convincing for Minister of Economy Karen Chshmariyian: he added that there are a lot of other industries that appear in the same situation.

“Many are working with the use of imported raw materials: pharmaceuticals, chemicals, and many others. What are specific difficulties of jewelers?” he wonders.

In response, Mkrtchyan assured they would provide justification.


 


 

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