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TAX EXEMPTION TO BE GRANTED TO BORDERZONE COMPANIES IN ARMENIA
YEREVAN, September 26. /ARKA/. Tax exemption will be granted to
companies operating at border regions, Armenia's deputy minister
of finance Vakhtang Mirumyan said in presenting the respective
government-approved bill at a cabinet meeting on Thursday.
The aim of the bill is to boost economic activity at border regions,
improve the business environment and investment appeal there,
Mirumyan said.
In particular, the bill suggests exempting borderzone businesses from
VAT, profit tax and income tax.
This means entrepreneurs will receive 2 billion drams in support of
their businesses, he said.
Amendments are proposed also to some other laws, the deputy minister
said. VAT revisions will allow entrepreneurs maintaining additional
operating assets for development of their businesses. These amendments
will be enforced stage by stage for some 9,700 entities.
Among other amendments are mandatory electronic reporting, mitigation
of penalties and an opportunity for lower mortgage rates.
The premier Hovik Abrahamyan said the new bills will allow ensuring
employment opportunities and promoting investments in Armenia's
borderzones.
It is necessary that parliament passes the bills as soon as possible,
by the end of the year, the premier said. -0--
http://arka.am/en/news/economy/tax_exemption_to_be_granted_to_borderzone_companie s_in_armenia/#sthash.MMA1P6vF.dpuf
YEREVAN, September 26. /ARKA/. Tax exemption will be granted to
companies operating at border regions, Armenia's deputy minister
of finance Vakhtang Mirumyan said in presenting the respective
government-approved bill at a cabinet meeting on Thursday.
The aim of the bill is to boost economic activity at border regions,
improve the business environment and investment appeal there,
Mirumyan said.
In particular, the bill suggests exempting borderzone businesses from
VAT, profit tax and income tax.
This means entrepreneurs will receive 2 billion drams in support of
their businesses, he said.
Amendments are proposed also to some other laws, the deputy minister
said. VAT revisions will allow entrepreneurs maintaining additional
operating assets for development of their businesses. These amendments
will be enforced stage by stage for some 9,700 entities.
Among other amendments are mandatory electronic reporting, mitigation
of penalties and an opportunity for lower mortgage rates.
The premier Hovik Abrahamyan said the new bills will allow ensuring
employment opportunities and promoting investments in Armenia's
borderzones.
It is necessary that parliament passes the bills as soon as possible,
by the end of the year, the premier said. -0--
http://arka.am/en/news/economy/tax_exemption_to_be_granted_to_borderzone_companie s_in_armenia/#sthash.MMA1P6vF.dpuf