YEREVAN. – The Armenian companies will get a more favorable VAT regime after joining the Eurasian Economic Union, Economy Minister Karen Chshmarityan said.

He explained that while importing goods from the Union's member states – Russia, Kazakhstan and Belarus – the VAT declaration will be filled in not on the border, but till the 20th day of the next month. The same refers to Armenian exporters to the mentioned countries.

“This will simplify procedures on exports to Russia and other member states. Previously Russian importers had to pay VAT on the Russian border, now they have 50 days. So, working capital of business entities will increase,” he said.