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Turnover Tax Rates Should Be Downed Also For Small Industrial Enterp

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  • Turnover Tax Rates Should Be Downed Also For Small Industrial Enterp

    TURNOVER TAX RATES SHOULD BE DOWNED ALSO FOR SMALL INDUSTRIAL ENTERPRISES IN ARMENIA - EXPERT

    YEREVAN, October 3. /ARKA/. Turnover tax rates should be downed
    not only for trade, but also small industrial enterprises, Tatul
    Manaseryan, head of Alternative Research Center, said Friday at a
    news conference.

    "If at the initial stage of their activity small industrial companies
    enjoy preferences and support, they will be able to develop into
    medium and even large organizations," he said.

    The amendments to the turnover tax law took force on October 1, 2014.

    They imply turnover tax decrease from present 3.5% to 1%, but
    along with that, they demand certain paperwork from small and medium
    entrepreneurs though introducing a facilitated scrutiny over compliance
    with this demand.

    The obligatory paperwork demand has prompted discontent among small and
    medium entrepreneurs, who are staging protests outside the government
    and parliament buildings.

    Speaking about these protests, Manaseryan said that certain political
    forces in Armenia are deliberately whipping up tension, and the
    government is making insufficient efforts to enhance public awareness
    about advantages of the amendments.

    "Introduction of the obligatory paperwork is aimed at lessening shadow
    in Armenia's economy," he said. ---0---

    http://arka.am/en/news/business/turnover_tax_rates_should_be_downed_also_for_small _industrial_enterprises_in_armenia_expert/#sthash.mpBKVrGH.dpuf

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