YEREVAN. – This tax code, even if changes are made, was written with the philosophy of the former times, within the framework of the conflict of interest of the former times.

Chairman of the Republican Union of Employers of Armenia, economist Gagik Makaryan, stated the aforementioned in an interview with Armenian News-NEWS.am.

In his words, the current tax laws of Armenia should undergo radical changes, instead of changing some of their provisions.

“We [Armenia] need tax changes that will promote investments in the country and contribute to the development of production,” he added, in particular.

Makaryan noted that it is a very serious issue in Armenia that laws are constantly changing, or even if they are not changing at that moment, the mood of change still dominates.

He noted that tax diversification is filled to capacity in Armenia because there is microbusiness which is not taxed, and there are businesses that work with turnover tax and value added tax, and the connection between them is often not promoted.

“Tax legislation should be such that it will be favorable for the businessman to further enlarge his business,” Gagik Makaryan concluded. “That’s why we believe that the Tax Code should still be subject to radical change.

“Now, the Tax Code [of Armenia] should be liberalized with its mindset.”