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LAW ON INCOME TAX TO BE AMENDED FOR THE INTERESTS OF CEMENT MANUFACTURERS
02.26.2015 11:22 epress.am
The Armenian Government has initiatied the amendment of the Law on
Income Tax in the interest of Armenian cement companies, writes 168
Zhamdaily, citing their confidential sources. Note, that the government
has proposed to the National Assembly to amend the Law on Income Tax,
having the tax rate for those exporters with incomes of 50 trillion
AMD ($104,450,000+/-) or higher reduced to 2% amount of the taxpayers'
gross income, in stead of the previous 10%.
According to 168 Zham's information, the Armenian authorities have come
to an agreement with a wealthy Russian businessman over consolidating
their forces in the construction sector and exporting 50 trillion
AMD worth of products.
"For that exact purpose the Law on Income Tax is to be amended. Most
probably, it refers to cement manufacturers. The two cement exporters
in Armenia, the Hrazdan cement factory and Ararat Cement, are mostly
idle due to the lack of demand. And now, the Russian businessman will
assume the right to administer the two factories and secure their
products' export," writes the paper.
Note, that the Hrazdan cement factory is owned by businessman Mikhail
Baghdasarov, while Ararat Cement's owner is Prosperous Armenia Party
leader, MP Gagik Tsarukyan.
http://www.epress.am/en/2015/02/26/law-on-income-tax-to-be-amended-for-the-interests-of-cement-manufacturers.html
02.26.2015 11:22 epress.am
The Armenian Government has initiatied the amendment of the Law on
Income Tax in the interest of Armenian cement companies, writes 168
Zhamdaily, citing their confidential sources. Note, that the government
has proposed to the National Assembly to amend the Law on Income Tax,
having the tax rate for those exporters with incomes of 50 trillion
AMD ($104,450,000+/-) or higher reduced to 2% amount of the taxpayers'
gross income, in stead of the previous 10%.
According to 168 Zham's information, the Armenian authorities have come
to an agreement with a wealthy Russian businessman over consolidating
their forces in the construction sector and exporting 50 trillion
AMD worth of products.
"For that exact purpose the Law on Income Tax is to be amended. Most
probably, it refers to cement manufacturers. The two cement exporters
in Armenia, the Hrazdan cement factory and Ararat Cement, are mostly
idle due to the lack of demand. And now, the Russian businessman will
assume the right to administer the two factories and secure their
products' export," writes the paper.
Note, that the Hrazdan cement factory is owned by businessman Mikhail
Baghdasarov, while Ararat Cement's owner is Prosperous Armenia Party
leader, MP Gagik Tsarukyan.
http://www.epress.am/en/2015/02/26/law-on-income-tax-to-be-amended-for-the-interests-of-cement-manufacturers.html