Large businesses not to enjoy same privileges along with small onesNovember 18, 2010 - 13:49 AMT PanARMENIAN.Net - During the November 18 sitting, the Armenian government introduced changes and amendments to the RA Law on Taxes. Armenian Minister of Finance Tigran Davtyan said that the amendments aim to reveal activity of interrelated entities. Specifically, it refers to usage of possible zero limit of VAT as part of a favorable regime for representatives of small and medium enterprises (SME). “The loophole is often used for tax evasion,” Davtyan said, adding that companies selling imported equipment will be considered a taxpayer from now on. Besides, amendments were introduced to commissions. Armenian Prime Minister Tigran Sargsyan noted that a range of problems has been revealed: large business tries to use those privileges, which have been provided to SME representatives. According to him, large businesses are purposefully divided to small enterprises to enjoy favorable conditions. “We are establishing an institute of interrelated persons. If similar cases are revealed, the State Revenue Committee will have the right to apply all legislative levers to protect the rights of SME,” Sargsyan said. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. Ucom's fixed network launched in Artashat To mark this occasion, the company has introduced a special offer exclusively for Artashat residents. “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. |