Armenia improves Doing Business standing by 6 notchesOctober 31, 2018 - 17:59 AMT PanARMENIAN.Net - Armenia ranks 41st by the ease of doing business against the 47th spot last year, the new edition of the World Bank Group’s annual Doing Business report reveals. Doing Business covers reforms affecting all sets of indicators included in this year’s report, implemented from June 2017 to May 2018. The reforms, carried out in 128 economies, benefit small and medium enterprises as well as entrepreneurs, enabling jobcreation and stimulating private investment. This year’s reforms surpass the previous all-time high of 290 reforms two years ago. In particular, the reforms making it easier to do business in Armenia are as follows: - Armenia made starting a business easier by allowing voluntary value added tax registration at the time of business incorporation. - Armenia made getting electricity faster by imposing new deadlines for procedures to obtain a new electrical connection. - Armenia strengthened minority investor protections by increasing disclosure of related-party transactions, clarifying ownership and control structures and requiring greater corporate transparency. - Armenia made paying taxes easier by introducing administrative measures to ease compliance with corporate income tax, value added tax and labor tax rules. - Armenia made enforcing contracts easier by introducing a simplified procedure for small claims and time standards for key court events. Meanwhile, neighboring Georgia and Azerbaijan come in the 6th and 25th, respectively, the latter having jumped 40 notches from last year's 65th position. Turkey is placed the 43rd, Russia is 31st, the United Sates has the 8th spot, while Iran is on the 128th position. Related links: Top stories Six total incidents have burned 19 old-growth trees. Friday night 8 trees were torched along the beautiful main entrance. The EU does not intend to conduct military exercises with Armenia, Lead Spokesperson for EU Foreign Affairs and Security Policy Peter Stano says. Hikmet Hajiyev has said that there is no place for USAID operation in Azerbaijan any longer. A telephone conversation between Putin and Pashinyan before the CSTO summit is not planned, Peskov says. Partner news | Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |