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Some commodity groups in Armenia's processing industry to be VAT exempted
May 5, 2011 - 14:40 AMT
PanARMENIAN.Net -
Head of the RA State Revenue Committee Gagik Khachatryan said that
Armenia's processing industry is of keen importance, since it is
directly related to agriculture, which is declared a priority field in
2011.
`The legislative field for the sphere is rather liberal, the more so
as we are ready to exempt a range of commodity groups from VAT payment
at border to promote development of the country's economy.
Specifically, this refers to fertilizers, pesticides and agricultural
equipment,' Khachatryan said after a meeting with representatives of
the field, in which Armenian President Serzh Sargsyan also
participated.
The meeting brought together 21 processing companies from six regions
of Armenia and Yerevan.
35% growth was recorded in the turnover of Armenia's processing
industry in 2010 compared to 2009, bringing it to AMD 65bln. However,
no increase was reported in taxes, making AMD 5bln on an average.
From: A. Papazian
May 5, 2011 - 14:40 AMT
PanARMENIAN.Net -
Head of the RA State Revenue Committee Gagik Khachatryan said that
Armenia's processing industry is of keen importance, since it is
directly related to agriculture, which is declared a priority field in
2011.
`The legislative field for the sphere is rather liberal, the more so
as we are ready to exempt a range of commodity groups from VAT payment
at border to promote development of the country's economy.
Specifically, this refers to fertilizers, pesticides and agricultural
equipment,' Khachatryan said after a meeting with representatives of
the field, in which Armenian President Serzh Sargsyan also
participated.
The meeting brought together 21 processing companies from six regions
of Armenia and Yerevan.
35% growth was recorded in the turnover of Armenia's processing
industry in 2010 compared to 2009, bringing it to AMD 65bln. However,
no increase was reported in taxes, making AMD 5bln on an average.
From: A. Papazian