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MINING COMPANIES PAY FIVE TIME LESS TAXES
Member of Parliament Hrant Bagratyan, ANC, told reporters today
he has drafted the bill on regulation of operation in the Armenian
mining industry of companies registered in the offshore is intended
to establish law and order in this sector because mining industries
are hiding in the offshore.
There are copper and molybdenum companies which are registered in the
offshore, he says. These companies do not report to those countries
and to our country. They buy expensive equipment, substances and sell
ore to companies registered in the offshore at lower prices. After
the offshore they sell ore at the real price and they thus avoid
taxes, Hrant Bagratyan explained, underlining that this is a serious
bill which initially regulates the mines but must later cover the
financial organizations.
He noted that taxes paid by mining industries could be five times
higher than today.
During today's meeting the government did not approve Hrant Bagratyan's
offshore bill. However, Prime Minister Sargsyan instructed to cooperate
with Bagratyan, noting that his points of view are in line with the
policy which the government is to implement.
In answer to the question whether he is ready to cooperate with the
government, Hrant Bagratyan said he cooperates with the government ex
officio but he will speak about it in more detail after he received a
formal letter from the government. If he gets an invitation, he will
do to the government to discuss the bill. Don't take off your shoes
before you come to the river, he advised.
17:48 02/05/2013 Story from Lragir.am News:
http://www.lragir.am/index.php/eng/0/economy/view/29773
Member of Parliament Hrant Bagratyan, ANC, told reporters today
he has drafted the bill on regulation of operation in the Armenian
mining industry of companies registered in the offshore is intended
to establish law and order in this sector because mining industries
are hiding in the offshore.
There are copper and molybdenum companies which are registered in the
offshore, he says. These companies do not report to those countries
and to our country. They buy expensive equipment, substances and sell
ore to companies registered in the offshore at lower prices. After
the offshore they sell ore at the real price and they thus avoid
taxes, Hrant Bagratyan explained, underlining that this is a serious
bill which initially regulates the mines but must later cover the
financial organizations.
He noted that taxes paid by mining industries could be five times
higher than today.
During today's meeting the government did not approve Hrant Bagratyan's
offshore bill. However, Prime Minister Sargsyan instructed to cooperate
with Bagratyan, noting that his points of view are in line with the
policy which the government is to implement.
In answer to the question whether he is ready to cooperate with the
government, Hrant Bagratyan said he cooperates with the government ex
officio but he will speak about it in more detail after he received a
formal letter from the government. If he gets an invitation, he will
do to the government to discuss the bill. Don't take off your shoes
before you come to the river, he advised.
17:48 02/05/2013 Story from Lragir.am News:
http://www.lragir.am/index.php/eng/0/economy/view/29773