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Economic News (Information Agency Oreanda), Russia
May 3, 2011 Tuesday
President Sargsyan Met with Owners of Mining Companies
Yerevan . OREANDA-NEWS . May 03, 2011. President Serzh Sargsyan
invited a meeting at the administrative office of the Vellex Group
companies, which was attended by the managers and owners of the mining
companies operating in Armenia. Before the meeting, the President was
briefed on the investment programs of the Vellex Group companies and
results of the activities of the companies comprising the Group in
mining, metallurgy, tourism and other areas.
At the beginning of the meeting, Serzh Sargsyan underscored that the
main goal is to discuss with the representatives of the companies
issues pertinent to the present and the future of mining industry in
Armenia, development programs of the companies engaged in that area,
their cooperation with the government and the State Revenue Committee
as well as to speak about problems existing in the area of mining and
avenues to address them.
As you already know, we have started the process of reformation in the
tax and customs areas, and a couple of days ago, at the sitting of the
National Security Council we approved a three-year plan of reforms in
the tax and customs areas which is aimed at easing the burden for the
taxpayers and simplification of the entire system.
Several day ago, the government came up with a new initiative which
has already been qualified by the experts as tax amnesty. In fact, its
not a tax amnesty. Its a proper approach which created exceptional
opportunities for the companies to work with the State Revenue
Committee, develop the timetable for the cancellation of the unpaid
taxes from the previous years and let off fines and penalties. It is
beneficial for the businesses, and it is beneficial for the state. I
believe, many of you have already started to work electronically with
the tax structures, and it undoubtedly opens a new page in our
interrelations. There will be no shortage of alike initiatives in the
future, President Serzh Sargsyan said at the meeting with the
representatives of the business community.
President Sargsyan noted that interaction between large, as well as
small and medium enterprises will be based on cooperation - work style
that leads to the creation of artificial problems is unacceptable for
the state. Serzh Sargsyan underscored that in the process of
reformation there must be no reduction of budget receipts, I simply
rule it out, because we cannot reduce social, educational, health
care, or defense expenses. There will be no unpaid or long overdue
pensions or wages. We simply rule it out. Thus, during the process of
reformation, we all need to be very constructive, since such
approaches emanate for the interests of the businesses and the state
alike, and I anticipate that your joint activities will be continuous
and efficient.
I have started my series of meetings with major businesses from the
mining area because mining is an important part of our economy. Todays
prices at the international market of non-ferrous metals allow to draw
new programs for development and look toward the future with greater
confidence. Thats another reason why I urge you all to expand, to
create new programs. On one hand, the owners will get more profit, on
the other, new jobs will be created, and the state, naturally, will
get additional tax revenues, President Sargsyan said.
At the meeting, the Minister of Economy Tigran Davtian presented the
general economic outline of the mining industry, of the current
problems and state approaches on the resolution of these problems and
designs for the development of the mining area. Later, the Head of the
State Revenue Committee Gagik Khatchatrian spoke about the
peculiarities of the mining area and tax policy which is based on that
peculiarities. He also presented the dynamics of the areas development
and, respectively, tax collection rate; he also spoke about
cooperation between the SRC and the companies engaged in mining.
Afterwards, there took place a discussion on the presented approaches
and proposals.
From: A. Papazian
May 3, 2011 Tuesday
President Sargsyan Met with Owners of Mining Companies
Yerevan . OREANDA-NEWS . May 03, 2011. President Serzh Sargsyan
invited a meeting at the administrative office of the Vellex Group
companies, which was attended by the managers and owners of the mining
companies operating in Armenia. Before the meeting, the President was
briefed on the investment programs of the Vellex Group companies and
results of the activities of the companies comprising the Group in
mining, metallurgy, tourism and other areas.
At the beginning of the meeting, Serzh Sargsyan underscored that the
main goal is to discuss with the representatives of the companies
issues pertinent to the present and the future of mining industry in
Armenia, development programs of the companies engaged in that area,
their cooperation with the government and the State Revenue Committee
as well as to speak about problems existing in the area of mining and
avenues to address them.
As you already know, we have started the process of reformation in the
tax and customs areas, and a couple of days ago, at the sitting of the
National Security Council we approved a three-year plan of reforms in
the tax and customs areas which is aimed at easing the burden for the
taxpayers and simplification of the entire system.
Several day ago, the government came up with a new initiative which
has already been qualified by the experts as tax amnesty. In fact, its
not a tax amnesty. Its a proper approach which created exceptional
opportunities for the companies to work with the State Revenue
Committee, develop the timetable for the cancellation of the unpaid
taxes from the previous years and let off fines and penalties. It is
beneficial for the businesses, and it is beneficial for the state. I
believe, many of you have already started to work electronically with
the tax structures, and it undoubtedly opens a new page in our
interrelations. There will be no shortage of alike initiatives in the
future, President Serzh Sargsyan said at the meeting with the
representatives of the business community.
President Sargsyan noted that interaction between large, as well as
small and medium enterprises will be based on cooperation - work style
that leads to the creation of artificial problems is unacceptable for
the state. Serzh Sargsyan underscored that in the process of
reformation there must be no reduction of budget receipts, I simply
rule it out, because we cannot reduce social, educational, health
care, or defense expenses. There will be no unpaid or long overdue
pensions or wages. We simply rule it out. Thus, during the process of
reformation, we all need to be very constructive, since such
approaches emanate for the interests of the businesses and the state
alike, and I anticipate that your joint activities will be continuous
and efficient.
I have started my series of meetings with major businesses from the
mining area because mining is an important part of our economy. Todays
prices at the international market of non-ferrous metals allow to draw
new programs for development and look toward the future with greater
confidence. Thats another reason why I urge you all to expand, to
create new programs. On one hand, the owners will get more profit, on
the other, new jobs will be created, and the state, naturally, will
get additional tax revenues, President Sargsyan said.
At the meeting, the Minister of Economy Tigran Davtian presented the
general economic outline of the mining industry, of the current
problems and state approaches on the resolution of these problems and
designs for the development of the mining area. Later, the Head of the
State Revenue Committee Gagik Khatchatrian spoke about the
peculiarities of the mining area and tax policy which is based on that
peculiarities. He also presented the dynamics of the areas development
and, respectively, tax collection rate; he also spoke about
cooperation between the SRC and the companies engaged in mining.
Afterwards, there took place a discussion on the presented approaches
and proposals.
From: A. Papazian