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SALES TAX LAW CONTROVERSY: TRADERS STAGE MORE PROTESTS AS DELAYED ENFORCEMENT DATE APPROACHES
Business | 26.01.15 | 12:57
A group of small traders gathered near the government building
today to resume their protests against the upcoming enforcement of
a controversial tax law that they say is against their interests.
The law that envisages the reduction of the sales tax for small
enterprises from 3.5 to 1 percent, but implies stricter rules for
the submission of sales-related documentation to tax authorities
originally was to have been enforced still on November 1, 2014.
However, after a series of protests staged by small business owners,
including hundreds of workers of Yerevan fairs, the government decided
to postpone the application of the law until February 1, 2015.
Small traders insist that they want to continue to work according
to the current rules as the new law, which the government insists is
beneficial for small businesses, adds an extra amount of paperwork.
They also claim that the law uses small companies as a tool in the
government's fight against tax evasions by larger companies - an
unacceptable practice, in their view.
By the new changes, tax authorities will caution a small company the
first time it fails to submit documentation related to its sales;
for the second time the company will be fined by 20,000 drams (over
$40), for the third time the fine will be equal to five percent of
the company's sales tax.
http://armenianow.com/economy/business/60091/armenia_traders_sales_tax_law_protests
Business | 26.01.15 | 12:57
A group of small traders gathered near the government building
today to resume their protests against the upcoming enforcement of
a controversial tax law that they say is against their interests.
The law that envisages the reduction of the sales tax for small
enterprises from 3.5 to 1 percent, but implies stricter rules for
the submission of sales-related documentation to tax authorities
originally was to have been enforced still on November 1, 2014.
However, after a series of protests staged by small business owners,
including hundreds of workers of Yerevan fairs, the government decided
to postpone the application of the law until February 1, 2015.
Small traders insist that they want to continue to work according
to the current rules as the new law, which the government insists is
beneficial for small businesses, adds an extra amount of paperwork.
They also claim that the law uses small companies as a tool in the
government's fight against tax evasions by larger companies - an
unacceptable practice, in their view.
By the new changes, tax authorities will caution a small company the
first time it fails to submit documentation related to its sales;
for the second time the company will be fined by 20,000 drams (over
$40), for the third time the fine will be equal to five percent of
the company's sales tax.
http://armenianow.com/economy/business/60091/armenia_traders_sales_tax_law_protests