Armenia moves to tax profits from Facebook, GoogleAugust 6, 2021 - 17:16 AMT PanARMENIAN.Net - Google, Facebook and similar companies will now be able to pay VAT in Armenia, Head of the State Revenue Committee Rustam Badasyan told a government meeting on Friday, August 6, after the Cabinet approved the draft project. Dwelling upon amendments in the country's Tax Code, Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Economy Minister Vahan Kerobyan noted, in turn, that the regulation is aimed not only at securing additional tax revenues, but also at leveling competitive conditions. “According to our estimates, additional taxes of at least AMD 20 billion (over $40 million - Ed.) will be collected,” he said. In 2018, Facebook started recording advertising sales made through local representatives in the countries where they are located, rather than funneling that money directly to Ireland, which has a lower corporate income-tax rate than many other countries. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." The care reaction is slated to launch globally on Facebook’s app and website sometime next week. Partner news Most popular in the section | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. 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. |