YEREVAN. - Starting from 2018, Armenia will cancel the prepayment for excise stamps, Armenia’s Deputy Minister of Finance Vakhtang Mirumyan said in the parliament today at the debate on the package of tax bills (amendments to the Law on Taxes and the accompanying bills).

Currently manufacturers or importers of excisable goods must pay for the excise stamps beforehand as a tax prepayment. After sale, the amount is deducted from their excise tax obligation.

“We want to revoke the practice of such prepayments to facilitate business management,” Mirumyan said.