The objectives of the Tax Code are to reduce tax payments and cancel patent fees. This is what co-founder of the Small and Medium-Sized Businesses Association and member of the Association’s management board Hakob Avagyan declared on 1 April during the first session of the task force for small and medium-sized businesses adjunct to the Standing Committee on Economic Affairs of the National Assembly of Armenia.

He also brought up an example as clarification.

“Let’s say we have a group of small and medium-sized entrepreneurs working with precious items and dealing with the future sale of those items. I’m referring to gold jewel sellers. They appear in the extra tax price zone, and this is why we advise them to let employees of the sector work in the tax circulation sector by paying 1.5-2% circulation tax without restriction on the threshold,” Avagyan clarified.

Moreover, in his opinion, the sector needs to be regulated.