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New law poses serious risk for investors - says economist
15:01 | January 31,2015 | Economy
2015 will be a crucial year for the Armenian economic market,
economist Artak Manukyan told reporters on January 31. The year will
be especially severe for small and medium-sized businesses.
His assessment referred to the traders who have been staging a series
of protests in Armenia against the controversial law on sales tax
which comes into effect on February 1.
The economist says the law poses a serious risk even for investors.
"Until recently, business relationships have been transparent for
them; everything will be much more complicated after the law enters
into force. I would be glad if traders had an alternative option, as
the prime minister said yesterday," said Mr Artak Manukyan.
The economist says retailers in Armenia are facing serious problems
today. This is also evidenced by the international reports published
in 2013 which say that about 18 percent of retailers in Armenia
have been driven out of the field.
"Since we joined the Eurasian Economic Union we have been taking up
new challenges. We could have supported our traders instead of
drafting new laws for them. I think the protests can develop into a
wave of revolt as political forces are joining the protesters, trying
to receive dividends. If the government shows a balanced approach to
the problem and makes compromises, I think things will not go that
far," he said.
http://en.a1plus.am/1205083.html
15:01 | January 31,2015 | Economy
2015 will be a crucial year for the Armenian economic market,
economist Artak Manukyan told reporters on January 31. The year will
be especially severe for small and medium-sized businesses.
His assessment referred to the traders who have been staging a series
of protests in Armenia against the controversial law on sales tax
which comes into effect on February 1.
The economist says the law poses a serious risk even for investors.
"Until recently, business relationships have been transparent for
them; everything will be much more complicated after the law enters
into force. I would be glad if traders had an alternative option, as
the prime minister said yesterday," said Mr Artak Manukyan.
The economist says retailers in Armenia are facing serious problems
today. This is also evidenced by the international reports published
in 2013 which say that about 18 percent of retailers in Armenia
have been driven out of the field.
"Since we joined the Eurasian Economic Union we have been taking up
new challenges. We could have supported our traders instead of
drafting new laws for them. I think the protests can develop into a
wave of revolt as political forces are joining the protesters, trying
to receive dividends. If the government shows a balanced approach to
the problem and makes compromises, I think things will not go that
far," he said.
http://en.a1plus.am/1205083.html