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GOVERNMENT PROPOSES REDUCING LIST OF GOODS IMPORTED ON CONCESSIONAL
TERMS
YEREVAN, MARCH 23, NOYAN TAPAN. At the March 23 sitting, the RA
National Assembly started discussing a government-submitted draft law
in first reading. The draft proposes making amendments to the law on
establishing the list of goods, which are imported by organizations
and private businessmen, have a zero rate of customs duty, are not
subject to excise taxation, and on which no VAT is calculated and
charged by customs bodies. The discussion will continue at the next
four-day sittings to be convened on April 10. The main speaker, RA
Deputy Minister of Trade and Economic Development Tigran Davtian said
that the draft's purpose is to ensure an equal competitive field for
all economic entities, bring the country's trade and economic
legislation in line with European laws, as well as to secure the
budget revenues through administration.
By the draft, the list of goods imported on concessional terms is
reduced by almost 20%. As a result, about 80% of the goods imported
into Armenia will be taxed on the border. According to the draft's
opponents, a draft law of similar contents was previously rejected by
the parliament, but the government ignored the proposals made by some
deputies. Particularly, Secretary of the Justice faction Victor
Dallakian urged the government not to "strangle" economic entities on
the border. Deputy Chairman of the NA Standing Committee on Financial,
Credit, Budget and Economic Issues, Secretary of the "People'e Deputy"
group Vahram Baghdasarian said that the government should promote
exports instead of trying the reduce imports and establish concessive
terms for the import of modern equipment and raw materials not
produced in Armenia. He noted that the adoption of the draft will
distort the budget's execution, since it presupposes extra revenues of
35 bln drams (about 77.7 mln USD) not envisaged by the budget.
TERMS
YEREVAN, MARCH 23, NOYAN TAPAN. At the March 23 sitting, the RA
National Assembly started discussing a government-submitted draft law
in first reading. The draft proposes making amendments to the law on
establishing the list of goods, which are imported by organizations
and private businessmen, have a zero rate of customs duty, are not
subject to excise taxation, and on which no VAT is calculated and
charged by customs bodies. The discussion will continue at the next
four-day sittings to be convened on April 10. The main speaker, RA
Deputy Minister of Trade and Economic Development Tigran Davtian said
that the draft's purpose is to ensure an equal competitive field for
all economic entities, bring the country's trade and economic
legislation in line with European laws, as well as to secure the
budget revenues through administration.
By the draft, the list of goods imported on concessional terms is
reduced by almost 20%. As a result, about 80% of the goods imported
into Armenia will be taxed on the border. According to the draft's
opponents, a draft law of similar contents was previously rejected by
the parliament, but the government ignored the proposals made by some
deputies. Particularly, Secretary of the Justice faction Victor
Dallakian urged the government not to "strangle" economic entities on
the border. Deputy Chairman of the NA Standing Committee on Financial,
Credit, Budget and Economic Issues, Secretary of the "People'e Deputy"
group Vahram Baghdasarian said that the government should promote
exports instead of trying the reduce imports and establish concessive
terms for the import of modern equipment and raw materials not
produced in Armenia. He noted that the adoption of the draft will
distort the budget's execution, since it presupposes extra revenues of
35 bln drams (about 77.7 mln USD) not envisaged by the budget.