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Small Farms Will Continue Being Exempt From Value Added Tax, Ministe

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  • Small Farms Will Continue Being Exempt From Value Added Tax, Ministe

    SMALL FARMS WILL CONTINUE BEING EXEMPT FROM VALUE ADDED TAX, MINISTER OF AGRICULTURE SAYS

    Noyan Tapan
    May 1, 2008

    YEREVAN, MAY 1, NOYAN TAPAN. In accordance with the requirements of
    joining the World Trade Organization (WTO), starting from January 1,
    2009, it is envisaged to collect value added tax (VAT) from farms in
    Armenia. However, taking into account the low profitability of the
    sector, productivity of lands in the country and other peculiarities,
    the Armenian government has conducted negotiations with the WTO to
    ease somewhat this obligation. The RA minister of agriculture Davit
    Lokian said in the National Assembly on April 30 that an agreement
    has been reached that small farms will continue being exempt from
    VAN after the indicated date.

    In his words, no VAT will be collected from Armenian farms and 3
    thousand enterprises producing agricultural products. VAT will be
    levied on 1,000 entities but the sums levied will be given back to
    these farms in the form of subsidies and other services. D. Lokian
    announced that this order will be in force within the next 5 years.
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