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YEREVAN. – Armenian Finance Ministry is ready to discuss the reduction of fines for overdue taxes, the ministry said in response to a bill submitted by “Prosperous Armenia” Mikael Melkumyan.

According to the bill, the law on taxes supposed reduction in the amount of the fine for outstanding tax payments.

As noted at the session of the government by Finance Minister Gagik Khachatryan, the penalties may be different from those in the Eurasian Union member countries, but are  calculated only during one year (365 days), while in many other countries  the fines are even lower but are charged with no time limits. Anyway, the Ministry of Finance is ready to consider these changes in the context of the overall tax reform, as a part of a new Tax Code.

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