YEREVAN. – Armenia’s Law on Turnover Tax will enter into force on January 1, 2013, Haykakan Zhamanak daily reports.   

“The authorities claim this [law] will ease the tax burden of small businesses but, in reality, just the opposite will occur.  

As a result of the new tax, the small businesses will pay at least twice as much tax. But the state budget will not gain from this because the new law will enable the wholesale trade organizations to increase their shadow [businesses], [and] consequently, to reduce the taxes that are paid to the state budget. 

The [respective] draft law will be adopted in the second reading at the ongoing [National Assembly] NA special session,” Haykakan Zhamanak writes.