Thursday, 18 October 2012
New Cash-Registers To Be Introduced From January 1, 2013
At today’s sitting, the Cabinet approved a draft amendment to Government Decree N 946 - A of June 1, 2005.
During the press conference, which was held at the Government Press Center, Deputy Head of State Revenue Committee Vakhtang Mirumyan told the journalists that the passing of this decision was first of all necessitated by the requirements of the law on the use of cash registers in the Republic of Armenia.
The law stipulates in particular that as of next January 1, monthly VAT payers will have to acquire new cash-registers. “Monthly VAT payers are those economic entities having displayed over AMD100mn in earnings all the way through the preceding calendar year,” Mr. Mirumyan explained.
According to the speaker, the new cash registers have the ability of transmitting to the tax authority information on cash settlements on a day-to-day basis.
The speaker further emphasized that the new cash registers are supposed to tackle the problem of profit statement. “The introduction of new cash-registers will help address the problem of economic entities’ fiscal revenue protection,” Mr. Mirumyan concluded.
