Thursday, 11 August 2011
Another Investment Program Gets Tax Privileges
A cabinet sitting was held today, chaired by Prime Minister Tigran Sargsyan.
Before the sitting, the Prime Minister referred to the findings of a service investigation conducted by the SRC in connection with a publication released by Aravot daily, as well as the dismantling of stalls and kiosks downtown Yerevan.
The government decided to prolong till September 1, 2014, the VAT holiday accorded to Hov-Khach LLC for goods imported from September 1 through December 31, 2011 exceeding AMD 300mn under an investment program.
The company constructed and commissioned in 2010 the Yotnakhpyur-Garni gravity water mains which ensures drinking and irrigating water supply for Garni, Geghard, Gokht, Hatsavan, Geghadir and Vokhchaberd villages of Kotaik marz of Armenia.
The company is going to built 5 small HPPs based on an automated control system with a 3-year VAT privilege for import of turbo-generators. The cascade of small HPPs is due to be commissioned in the 3rd quarter of 2012.
According to Prime Minister Tigran Sargsyan, quite important and sizeable investments have been made in the system of irrigation under the program which is widely appreciated and will be continued ahead.
Amending two previous decrees, the government earmarked AMD 19.7mn for an irrigation system to be established at Erebouni Forestry public entity over an area of 51 hectares, as well as for fencing and forestation activities to be implemented on an area of 20 hectares.
With another decision passed at the sitting, the government seeks to streamline the process of purchase of 766 tons of seeds of first reproduction under the wheat seed-breeding and production program for 2010-2014.
Amending two previous decrees, the meeting decided that cash-register tickets will have to be delivered by notary offices to customers against cash payment of State duties instead of receipts. It is expected to spare the customers the need for applying to another entity (the bank), as well as to promote introduction of the “one-stop-shop” principle.
Prime Minister Tigran Sargsyan called the stakeholders’ attention to the need for avoiding that all payments are charged by notaries. “Citizens should be allowed the possibility of making payments by credit cards on the spot. We should seek the Central Bank’s assistance as for the installation of corresponding terminals.”
The government’s next decision outlines the list of State Registry Office-offered services aimed at promoting the use of the “one-stop-shop” principle.
The government approved a program entitled “Design of Armenia’s new seismic risk map on the scale of 1:50000. The map will be developed with the application of internationally accepted standards for assessment of seismic risks and the use of computer-based alternative modeling systems.
The government next backed the proposal on signing a memorandum of understanding between the governments of the Republic of Armenia and the Islamic Republic of Iran on development assistance to be provided to Armenia for expansion of border region’s natural gas network.
The Executive endorsed the proposal on signing an economic cooperation arrangement between the governments of the Republic of Armenia and the Jordanian Hashemite Kingdom.
The meeting passed decisions on about 40 agenda items.
