SME tax administration facilitated in 2009

PanARMENIAN.Net - Tax administration for small and medium-sized enterprises (SME) was considerably facilitated in 2009, Armenian Prime Minister said.

“The VAT threshold was raised from AMD 3mln to 58.3mln. Besides, monthly VAT report will be submitted by the enterprises with AMD100mln turnover instead of previous AMD 60mln. The VAT payment terms were prolonged up to 3 years, if it exceeds AMD 300mln,” Tigran Sargsyan said.

“The government approved 7 investments programs amounting to AMB 17.5bln, what allows creation of 500 job opportunities in various economic sectors. The list of documents needed for export and import of goods has been shortened. These measures taken to improve the business environment helped Armenia go up from 50th to 43rd place in Doing Business rankings,” the Prime Minister said.