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NEW TAX CODE TO BE UNVEILED BY SUMMER IN ARMENIA
YEREVAN, March 11. /ARKA/. Armenia's new tax code will be unveiled
before the beginning of this year's summer, Naren Chanmugam, head of
USAID Economic Office in Armenia, told journalists on Wednesday.
There are separate tax laws in Armenia now, which makes tax evasion
possible, he said. Pointing out that some large companies pay less
taxes than they ought to do, the expert stressed the necessity of
formation of a tax system that will live no room for maneuvering.
In his opinion, if tax law is clearer in Armenia, it will be free
from faults and income and taxable amounts will be clear and things
will be put right.
Chanmugam said USAID is carried out a joint work with Armenia's finance
ministry for that and a new tax code is planned to be released to
public before the beginning of the summer.
He said even property taxes alone can increase tax revenue a great
deal, but an effective mechanism is needed to force tax dodgers to pay.
Unlike income or profits, immovable property can be easily controlled,
since it is visible.
Therefore it is necessary to improve application of immovable property
taxation mechanisms.
In 2013, USAID surveyed 1,448 households in Armenia's capital and
provinces over tax environment and the results of the survey prompted
experts to propose elaboration of a new tax code.
A national program is also being worked out now to combat tax evasion
in the country. ---0-----
http://arka.am/en/news/business/new_tax_code_to_be_unveiled_by_summer_in_armenia_/#sthash.6oWFDWY4.dpuf
From: Baghdasarian
YEREVAN, March 11. /ARKA/. Armenia's new tax code will be unveiled
before the beginning of this year's summer, Naren Chanmugam, head of
USAID Economic Office in Armenia, told journalists on Wednesday.
There are separate tax laws in Armenia now, which makes tax evasion
possible, he said. Pointing out that some large companies pay less
taxes than they ought to do, the expert stressed the necessity of
formation of a tax system that will live no room for maneuvering.
In his opinion, if tax law is clearer in Armenia, it will be free
from faults and income and taxable amounts will be clear and things
will be put right.
Chanmugam said USAID is carried out a joint work with Armenia's finance
ministry for that and a new tax code is planned to be released to
public before the beginning of the summer.
He said even property taxes alone can increase tax revenue a great
deal, but an effective mechanism is needed to force tax dodgers to pay.
Unlike income or profits, immovable property can be easily controlled,
since it is visible.
Therefore it is necessary to improve application of immovable property
taxation mechanisms.
In 2013, USAID surveyed 1,448 households in Armenia's capital and
provinces over tax environment and the results of the survey prompted
experts to propose elaboration of a new tax code.
A national program is also being worked out now to combat tax evasion
in the country. ---0-----
http://arka.am/en/news/business/new_tax_code_to_be_unveiled_by_summer_in_armenia_/#sthash.6oWFDWY4.dpuf
From: Baghdasarian