Armenia moves to tax profits from Facebook, GoogleAugust 6, 2021 - 17:16 AMT PanARMENIAN.Net - Google, Facebook and similar companies will now be able to pay VAT in Armenia, Head of the State Revenue Committee Rustam Badasyan told a government meeting on Friday, August 6, after the Cabinet approved the draft project. Dwelling upon amendments in the country's Tax Code, Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Economy Minister Vahan Kerobyan noted, in turn, that the regulation is aimed not only at securing additional tax revenues, but also at leveling competitive conditions. “According to our estimates, additional taxes of at least AMD 20 billion (over $40 million - Ed.) will be collected,” he said. In 2018, Facebook started recording advertising sales made through local representatives in the countries where they are located, rather than funneling that money directly to Ireland, which has a lower corporate income-tax rate than many other countries. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." The care reaction is slated to launch globally on Facebook’s app and website sometime next week. Partner news Most popular in the section | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |