YEREVAN. – At Thursday’s Cabinet session, the government of Armenia approved the initiative of amendments to the Tax Code, and aimed at returning 56 billion drams of VAT liabilities to taxpayers.
Davit Ananyan, Chairman of the State Revenue Committee, presented the matter.
“With this decision, we eliminate the distinction between old and new debits [along the lines VAT],” he said, in particular.
In his words, there are about 9,000 entities that have debits and pay the VAT in Armenia.
“In two years, we [the Armenian government] have reduced our debt to businessmen by 220 billion drams,” Ananyan added, in particular.
“That is, we have financed the economy by 220 billion drams,” Prime Minister Nikol Pashinyan chimed in. “And, in fact, nobody had any hope of getting [back] these 56 billion drams. This opportunity arose from the fact that the budget revenues have increased this year.”