YEREVAN. – The concerns with respect to tax penalties on Armenia’s businesses, and linked to the control stamps, are unwarranted, Deputy Minister of Finance Vakhtang Mirumyan told Armenian News-NEWS.am.

Speaking to Armenian News-NEWS.am earlier, several producers and manufacturers had stated that the aforementioned stamps have created problems in the tax accounting of products which were not sold. In their words, if a product in Armenia is considered sold, it is no longer possible to remove it from the tax collection database.

Mirumyan, however, denied these claim.

“Three years ago, the Government [of Armenia] adopted a regulation where it is clearly indicated in which cases and with what procedure such a product can be returned,” he noted.

In Vakhtang Mirumyan’s words, the product can be returned within 180 days of the respective business deal.