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TAX EXEMPTION TO HELP CREATE JOBS AND INFRASTRUCTURES IN ARMENIA'S BORDER REGIONS
YEREVAN, October 30. /ARKA/. Granting a tax-exempt status to
companies in border regions of Armenia will help create jobs and
form infrastructures, head of Union of Employers of Armenia Gagik
Makaryan said.
Agriculture will develop and migration will reduce then, he told a
press conference on Wednesday.
New legislation will facilitate business decentralization causing
a multiplier effect when one new business leads to development of
related businesses, Makaryan said.
Certain quotas may be used to prevent big companies from transferring
their businesses to border regions for the sake of tax exemption,
Makaryan said.
Armenia's parliament passed, in the first reading, the
government-proposed amendments to the tax legislation exempting
companies from VAT, income tax and profit tax in border regions. The
amendments envisage also financial support worth 2 billion drams
to entrepreneurs.
The aim of the amendments is to increase economic activity and
investment appeal in border regions. ($1-411.55 drams). -0-
http://arka.am/en/news/business/tax_exemption_to_help_create_jobs_and_infrastructu res_in_armenia_s_border_regions/#sthash.vbEjK5Wz.dpuf
From: A. Papazian
YEREVAN, October 30. /ARKA/. Granting a tax-exempt status to
companies in border regions of Armenia will help create jobs and
form infrastructures, head of Union of Employers of Armenia Gagik
Makaryan said.
Agriculture will develop and migration will reduce then, he told a
press conference on Wednesday.
New legislation will facilitate business decentralization causing
a multiplier effect when one new business leads to development of
related businesses, Makaryan said.
Certain quotas may be used to prevent big companies from transferring
their businesses to border regions for the sake of tax exemption,
Makaryan said.
Armenia's parliament passed, in the first reading, the
government-proposed amendments to the tax legislation exempting
companies from VAT, income tax and profit tax in border regions. The
amendments envisage also financial support worth 2 billion drams
to entrepreneurs.
The aim of the amendments is to increase economic activity and
investment appeal in border regions. ($1-411.55 drams). -0-
http://arka.am/en/news/business/tax_exemption_to_help_create_jobs_and_infrastructu res_in_armenia_s_border_regions/#sthash.vbEjK5Wz.dpuf
From: A. Papazian