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ARMENIA TO TAX LUXURIES
Vestnik Kavkaza
Nov 1 2011
Armenian government has prepared a package of laws designed to
overhaul the tax system, including introducing new taxes on luxury
cars, RIA Novosti reports.
Introducing the 2012 budget, Sarkisyan told parliament that tax would
rise 5% to 25% for individuals earning more than 2 million drams
(5.3 thousand dollars).
Tax on expensive alcohol, casino games and slot machines would rise
50%, netting a planned 4 million drams to the budget, although some
details were still to be worked out.
Administrative procedures would be simplified for small businesses
earning up to around $25,000, while rules for large businesses and
the banking sector would be toughened.
Sarkisyan noted that laws on free trade zones were in the budget,
including the CIS agreement signed in St Petersburg and economic
stimulation measures.
Vestnik Kavkaza
Nov 1 2011
Armenian government has prepared a package of laws designed to
overhaul the tax system, including introducing new taxes on luxury
cars, RIA Novosti reports.
Introducing the 2012 budget, Sarkisyan told parliament that tax would
rise 5% to 25% for individuals earning more than 2 million drams
(5.3 thousand dollars).
Tax on expensive alcohol, casino games and slot machines would rise
50%, netting a planned 4 million drams to the budget, although some
details were still to be worked out.
Administrative procedures would be simplified for small businesses
earning up to around $25,000, while rules for large businesses and
the banking sector would be toughened.
Sarkisyan noted that laws on free trade zones were in the budget,
including the CIS agreement signed in St Petersburg and economic
stimulation measures.