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RPA seeks to exempt oligarchs of high excise tax on import of expens

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  • RPA seeks to exempt oligarchs of high excise tax on import of expens

    Republican Party of Armenia seeks to exempt oligarchs of high excise
    tax on import of expensive cars


    by Alexandr Avanesov

    Wednesday, April 30, 14:11

    Armenian National Assembly amended the Law On Excise Tax on
    Wednesday. The amendments call to exempt importers of expensive cars
    of high excise taxes.

    Four opposition parties Orinats Yerkir, Prosperous Armenia, ARFD and
    Heritage refused to vote on what they think leaves many issues
    pending. In fact, Parliament Speaker Galust Sahakyan was reluctant to
    announce a 20-minute break to ensure the necessary number of votes by
    the Republican Party Faction. After the break, the amendments were put
    on voting and were passed in the first reading.

    Earlier, on Tuesday, the co-author of the bill, MP from the ruling
    Republican Party Vardan Ayvazyan said that the decision to impose a
    20% excise tax on the import of expensive cars has resulted in
    declining car imports and a 4bln AMD cut in relevant budget revenues.
    "We should cancel the tax if we want to get more revenues. In any
    case, if adopted, these changes will hardly last for long. On Jan 1
    2015 we are to join the Eurasian Union and the customs duties will
    grow. So, we have just six months to allow our people to import good
    cars and our authorities to replenish the budget," Ayvazyan said.

    When some MPs objected that the wealth tax was meant to ensure social
    justice rather than to solve some fiscal problems, Ayvazyan said that
    for being socially effective, such a tax should be applied to property
    rather than car import.

    http://www.arminfo.am/index.cfm?objectidÅ5B84F0-D04F-11E3-8B000EB7C0D21663



    From: Emil Lazarian | Ararat NewsPress
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