Does Armenia need "tax vacation"?March 6, 2009 - 20:34 AMT PanARMENIAN.Net - "In current situation the Armenian Government must land a helping land to local manufacturers," the Head of Armenian Manufacturers Union Vazgen Safaryan told a news conference on Friday. Vazgen Safaryan suggested reducing VAT from 20% to 16 - 17%, and to 15% for small and medium-sized businesses. " Similarly, Russia plans to lower the VAT from 17% to 13%. We must adopt the practices of developed countries by switching from indirect taxes to direct ones," he noted, citing the example of USA where total share of taxes comprises 52,8%. "The government should take drastic measures against unfair importers who turned the upsurge in the exchange rate to their benefit by raising prices. On the opposite side, if tax vacations are introduced in Armenia, the country will not be able to provide 940 billion budget 78,9% of witch are formed from tax proceeds," Safaryan concluded. 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 | Ucom Celebrates Telecommunication Day May 17 commemorates the founding of the International Telecommunication Union on May 17, 1865. Armenian, Azerbaijani heads of parliament meet in Switzerland President of the Armenian parliament Alen Simonyan met with the Speaker of the Azerbaijani Milli Majlis Sahiba Gafarova. Border residents overnight on highway to protest Armenia’s Residents of Kirants continue to express outrage over the government’s decision to cede land to Azerbaijan. Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. |