The manufacturers in Armenia will be allowed to write off damaged products without additional tax payments. Deputy minister of finance Arman Poghosyan informed about this during Monday’s parliamentary debates on the bill on making addenda to the Tax Code.

According to him, if the buyer, for example, submits a complaint to the manufacturer of a chain of stores, returns the defective product, and demands a refund for the latter, then the manufacturer can deduct that amount from his turnover.

"Thus, he will be freed from the need to pay profit tax for the product, which as a result was never sold. Moreover, the write-off can be carried out no more than one percent of the total turnover," Poghosyan explained.

In the future, and within the framework of the respective decision of the government, by-laws will also be adopted.

The deputy minister noted, however, that this opportunity will be available only to manufacturers of goods, not to importers.