Armenia’s commercial banks fixed assets to be reappraised

PanARMENIAN.Net - A new tax package submitted to parliamentary discussion as a part of 2012 budget estimates envisages reassessment of fixed assets for Armenia’s commercial banks.

As Armenian Prime Minister Tigran Sargsyan stated during the sitting of the council for medium & small businesses development, “as opposed to real sector, banks had a possibility of reassessing their fixed assets which affected the final estimate of income tax. We resolved to eliminate that privilege, obligating the banks to use the services of specialized structures in determining their income taxes.”