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Cash-Registers To Be Installed In All Arnenian Fairs

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  • Cash-Registers To Be Installed In All Arnenian Fairs

    CASH-REGISTERS TO BE INSTALLED IN ALL ARNENIAN FAIRS

    ARKA
    Aug 6, 2008

    YEREVAN, August 6. /ARKA/. All Armenian fairs and markets must have
    cash registers installed beginning from Sept 1 2008, Premier Tigran
    Sargsyan told a group of fair owners and organizers Tuesday. A
    relevant demand has been set under the new concept approved by the
    council for introduction of new income management standards.

    "Over 80 percent of trade is carried out in fairs which is a good
    chance to evade taxes. We cannot tolerate the current tax management
    habits any longer," he said.

    The owners of the fairs are in charge of supervision over installation
    and proper operation of cash registers which must be integrated into
    one common computer network by October 1, the premier stressed.

    In addition, the organizers must conclude contracts with the vendors
    on their territories according to the sample contracts approved by
    the government.

    Under the new concept, the owners will have to review their contracts
    with economic entities including information on the specific size
    of trading areas and submit the renewed contracts to the State Tax
    service. Renting out trading areas without concluding contracts is
    subject to a fine 100,000 to 300, 000 drams (close to $330 - $1000)
    per trading point.

    From: Emil Lazarian | Ararat NewsPress
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