Friday, 17 January 2014
SME Tax Regime Facilitation Discussed
Chaired by Prime Minister Tigran Sargsyan, a regular meeting of the SME Development Council was held today in the Office of Government. As at the previous meeting, the meeting looked at the possibility of amending the Republic of Armenia law on tax turnover.
Addressing the SME representatives in attendance, the Prime Minister said that the proposed amendment seeks to reduce the turnover tax from the currently applicable 3.5% to 1% through more accurate documentation covering all transactions.
Tigran Sargsyan said to be surprised at the fact that many SMEs proved against the proposal. In this case, the problem must be sought not only in poor administration, but also in the existence of shadow transactions, including with major businesses.
During the exchange of views that followed the Council members voiced their comments and suggestions concerning the issue under consideration. Summing up the discussion, the Prime Minister told those present to discuss the proposals once again and re-submit the issue at the next meeting.
