YEREVAN, April 30. / ARKA /. Kaga Argo company has been awarded today by the Armenian government a prolonged deferment of VAT payment until May 2017 after it pledged to invest 854 million drams in establishment of greenhouses, newly appointed economy minister Karen Chshmarityan said at a Cabinet session today.
The minister said the company will build greenhouses on an area of 2 hectares to produce 560 million drams worth produces from 2015.
The deferment is awarded to companies which import more than 300 million drams worth modern equipment or technology to expand their output and modernize production facilities.
Earlier this month the government has cut the ceiling to 200 million drams. ($1 – 413.10 drams). -0-