Thursday, 9 October 2014
Favorable Conditions Provided for Turnover Documentation
As Deputy Minister of Finance Armen Alaverdyan told today’s Government Press Center-hosted press conference, by amending three of its previous decisions, the Government complied with the requirements of the law on amendments to the law “On application of cash registers” providing the possibility for the operators of transportation means to write off and remove cash-register-aided electronic transactions and tax invoices.
According to the speaker, the decision offers favorable conditions for trade documentation. “A transaction settlement document is issued, when goods are delivered with wholesale purposes. The amendment allows suppliers to install cash registers on their delivery vehicles,” Mr. Alaverdyan said.
The Deputy Minister has also referred to the government-approved bill on follow-up amendments to the amended law “On turnover tax,” which suggests extending the deadlines set for the application of transitional provisions.
A number of technical problems have emerged following discussions held with the representatives of non-governmental organizations representing SME interests regarding the clause on mandatory documentation, which are mainly due to the 10-day deadline set for the stock-taking of goods purchased before the effectiveness of the legislative requirement.
In particular, the affected taxpayers will face time constraints while taking sock of residual goods within the specified deadlines in order to provide information to tax authorities.
