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THE RICH TO PAY HIGHER PRICE FOR LUXURY?
Tert.am
17:12 01.11.11
Those sectors of economy which have big profits will have to pay
higher taxes next year, according to the prime minister.
Introducing the 2012 Draft Budget at the National Assembly on Tuesday,
Tigran Sargsyan said the country's basic financial document envisages
more favorable conditions for small- and medium-sized businesses next
year, proposing higher tax burdens for enterprises with higher profits.
It came after president Serzh Sargsyan hosted a discussion over the
tax package with the representatives of the ruling coalition.
"We have received the first ever proposal to impose a luxury tax. We
propose essentially higher taxes on expensive cars whose price exceeds
$90,000," the premier said, adding that such tax policy will help
increase the tax revenues by 1 million drams (approx $2,700).
The tax package proposes that people with a higher income (2 million
Drams or about $5,400 and more) pay 5% more taxes (25% of income).
The premier added that the proposed amendments also will also apply
to alcoholic beverages.
"Taxes will be levied more on expensive alcoholic drinks. Their
tax burden will increase by 50% compared to cheaper beverages for
which the 500 Dram [about $1.35] margin will remain unchanged,"
the premier added.
Tert.am
17:12 01.11.11
Those sectors of economy which have big profits will have to pay
higher taxes next year, according to the prime minister.
Introducing the 2012 Draft Budget at the National Assembly on Tuesday,
Tigran Sargsyan said the country's basic financial document envisages
more favorable conditions for small- and medium-sized businesses next
year, proposing higher tax burdens for enterprises with higher profits.
It came after president Serzh Sargsyan hosted a discussion over the
tax package with the representatives of the ruling coalition.
"We have received the first ever proposal to impose a luxury tax. We
propose essentially higher taxes on expensive cars whose price exceeds
$90,000," the premier said, adding that such tax policy will help
increase the tax revenues by 1 million drams (approx $2,700).
The tax package proposes that people with a higher income (2 million
Drams or about $5,400 and more) pay 5% more taxes (25% of income).
The premier added that the proposed amendments also will also apply
to alcoholic beverages.
"Taxes will be levied more on expensive alcoholic drinks. Their
tax burden will increase by 50% compared to cheaper beverages for
which the 500 Dram [about $1.35] margin will remain unchanged,"
the premier added.