YEREVAN. – The jewelry merchants in Armenia will now have a simplified tax regimen.

The respective draft amendments to the Law on Licensing Fees were approved at Wednesday’s Cabinet meeting.

According to Deputy Minister of Economy Emil Tarasyan, working with the turnover tax complicates accounting as well as interim and other financial expenses.   

Now, licensing fees for the jewelry merchants are expected to be different in capital city Yerevan, provincial centers, other towns as well as villages and border settlements of Armenia.