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Parliament abolishes tax on expensive cars in Armenia

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  • Parliament abolishes tax on expensive cars in Armenia

    Parliament abolishes tax on expensive cars in Armenia

    YEREVAN, April 30. /ARKA/. Armenia's National Assembly passed in the
    first reading the bill envisaging abolition of tax on expensive cars
    at its session Wednesday.

    The bill is authored by the ruling Republican Party of Armenia.

    Non-coalition factions ` Prosperous Armenia, Dashnaktsutiun, Armenian
    National Congress, Heritage and Orinats Yerkir ` said they would not
    participate in the vote. The ruling party announced a 20-minute break
    and passed the law with 67 votes of its members afterwards. One
    abstained from voting.

    The amendment relates to cars costing more than 25 million drams or
    cars not older than 2 years and with motor capacity of 4,500 cubic
    centimeters and above.

    Yesterday, the head of parliament commission for economic issues
    Vardan Ayvazyan said budget receipts reduced by about 3 billion drams
    after the tax was introduced. It was expected receipts from excise tax
    would increase instead, he said.

    `There is another reason expensive cars should be temporarily exempt
    from excise tax. We are joining the Eurasian Economic Area in 2015 and
    accept the unified tax on cars. They are already high, so let people
    who want to import expensive cars do that before then', Ayvazyan said.
    ($1=413.10drams). `0--

    - See more at: http://arka.am/en/news/economy/Parliament_abolishes_tax_on_expensive_cars_in_arme nia/#sthash.ndHbPOZN.dpuf


    From: Baghdasarian
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