Representatives of Armenia’s IT field discuss tax and customs matters

PanARMENIAN.Net - On January 25, 2011, Enterprise Incubator Foundation (EIF) hosted a roundtable meeting of the members of Investment and Entrepreneurship Working Group of the IT Development Support Council of Armenia (IT DNC) to discuss legislative changes suggested by EIF and the Union of IT Enterprises of Armenia (UITE) targeting tax and customs-related laws and regulations.

In an effort to bring up tax and customs issues that cause concern among IT companies in Armenia, in October-December 2010, EIF and UITE had held a number of discussions with representatives of Armenian IT companies, and had developed suggestions on legislative changes. In particular, suggested changes are to optimize customs relations and procedures for Armenian IT companies, and to make amendments in Resolution No. 753 of the RA Government (November 27, 1998) to reduce tax payments for IT companies through full calculation of expenses versus partial calculation.

In result of the roundtable discussion slight modifications were made to the proposed legislative changes. It was decided to include these issues in the agenda of the next meeting of IT DNC which will be chaired by Prime Minister of Armenia Tigran Sargsyan.