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Turnover tax law puts heavy burden on media
13:57 - 26.04.13
The Law on Turnover Tax, adopted in December last year, has imposed a
heavy burden on several media outlets in Armenia.
At a news conference on Friday, the editor-in-chief of the Hraparak
daily, Armine Ohanyan said the new compulsory payment, which has added
to the income tax paid before, actually covers 3.5% of the newspaper
sale and 5% of the advertisement proceeds.
`We paid the tax quite recently, and saw that it is quite a huge sum -
600,000-700,000 Drams [approx. $1,440-$1,690]. This is a great blow to
the newspapers with an average or small circulation. The law does not
apply to those who pay the value added tax,' she said, adding that the
new form of duty also affects the small- and medium-sized businesses.
Ohanyan noted that the law especially has a negative impact on the
newspapers which, apart from releasing a print version, also operate
websites and offer ads.
Taguhi Tovmasyan, the editor-in-chief of the Zhoghovurd newspaper,
said in turn that the new duty has increased their compulsory tax
payments from 200-350 Drams ($0.48-$0.84) to 400,000-500,000 Drams
(approx. $960-$1200).
`There were no parliamentary hearings, as a matter of fact, and no
consultations with representatives of small- and medium-sized
businesses,' she said. `We wish to bring up the problem today and have
an agreement with several parliament members for proposing changes and
resuming the former taxes for the publishing sector.'
Tovmasyan added that the new legal measure is also likely to result in
the closedown of shops.
Armenian News - Tert.am
13:57 - 26.04.13
The Law on Turnover Tax, adopted in December last year, has imposed a
heavy burden on several media outlets in Armenia.
At a news conference on Friday, the editor-in-chief of the Hraparak
daily, Armine Ohanyan said the new compulsory payment, which has added
to the income tax paid before, actually covers 3.5% of the newspaper
sale and 5% of the advertisement proceeds.
`We paid the tax quite recently, and saw that it is quite a huge sum -
600,000-700,000 Drams [approx. $1,440-$1,690]. This is a great blow to
the newspapers with an average or small circulation. The law does not
apply to those who pay the value added tax,' she said, adding that the
new form of duty also affects the small- and medium-sized businesses.
Ohanyan noted that the law especially has a negative impact on the
newspapers which, apart from releasing a print version, also operate
websites and offer ads.
Taguhi Tovmasyan, the editor-in-chief of the Zhoghovurd newspaper,
said in turn that the new duty has increased their compulsory tax
payments from 200-350 Drams ($0.48-$0.84) to 400,000-500,000 Drams
(approx. $960-$1200).
`There were no parliamentary hearings, as a matter of fact, and no
consultations with representatives of small- and medium-sized
businesses,' she said. `We wish to bring up the problem today and have
an agreement with several parliament members for proposing changes and
resuming the former taxes for the publishing sector.'
Tovmasyan added that the new legal measure is also likely to result in
the closedown of shops.
Armenian News - Tert.am