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GOVERNMENT NIXES OPPOSITION LAWMAKER'S BILL RELATED TO OFFSHORE MINING COMPANIES
BUSINESS | 02.05.13 | 14:07
Photo: www.gov.am
The Armenian government on Thursday gave a negative conclusion to the
draft law "On the Regulation of Offshore-Registered Mining Industry
Companies" submitted by opposition lawmaker and former prime minister
Hrant Bagratyan.
The bill providing for exclusion of offshore-registered companies in
certain dealings with the mining industry of Armenia is designed by
its author as a means to tackle tax evasion in the sector.
According to the official website of the government, it was stressed
at the Cabinet session that the Armenian executive authorities, too,
are concerned over the risks of tax evasion in the sector, but they
find that the bill is legally controversial and its adoption will
not provide an opportunity to efficiently manage the risk.
At the same time, Prime Minister Tigran Sargsyan emphasized: "The
government is of the opinion that offshore enterprises investing in
Armenia, engaged in the export of products from Armenia and their
sale must be under our strictest control, because we see serious
risks in it."
http://www.armenianow.com/economy/business/45756/armenia_offshore_zones_government
BUSINESS | 02.05.13 | 14:07
Photo: www.gov.am
The Armenian government on Thursday gave a negative conclusion to the
draft law "On the Regulation of Offshore-Registered Mining Industry
Companies" submitted by opposition lawmaker and former prime minister
Hrant Bagratyan.
The bill providing for exclusion of offshore-registered companies in
certain dealings with the mining industry of Armenia is designed by
its author as a means to tackle tax evasion in the sector.
According to the official website of the government, it was stressed
at the Cabinet session that the Armenian executive authorities, too,
are concerned over the risks of tax evasion in the sector, but they
find that the bill is legally controversial and its adoption will
not provide an opportunity to efficiently manage the risk.
At the same time, Prime Minister Tigran Sargsyan emphasized: "The
government is of the opinion that offshore enterprises investing in
Armenia, engaged in the export of products from Armenia and their
sale must be under our strictest control, because we see serious
risks in it."
http://www.armenianow.com/economy/business/45756/armenia_offshore_zones_government