More than 2,000 jobs cut in Armenia’s trade in 2013 – newspaper

More than 2,000 jobs cut in Armenia’s trade in 2013 – newspaper

YEREVAN, April 25. /ARKA/. Over 2,300 jobs were cut in Armenia’s trade sector in 2013, Hayots Ashkharh (Armenian World) newspaper reported.

Today 36,000 people are employed in trade, as compared to over 38,300 in 2012, according to the newspaper. The number of small stores has dropped by 1,400.

Reduction is recorded also in number of people employer in malls. The newspaper says a year ago 5,592 people were employed in stores with staff of up to 15, whereas now it is 5,300 people. There are currently 744 such shops (15 less).

Number of supermarkets increase by 10 to a total of 155 in the period. Supermarkets constitute only 1.2% of all shops and provide only 69% of all trade.

Heavy tax burden is supposed to be the main reason for closing small and medium-sized shops and trade being concentrated in supermarkets.

As of January 1 2013, a turnover tax was introduced for small and medium-sized enterprises with a turnover of up to 58.35 million, which used to pay profit tax or income tax before. According to the new law, annual turnover tax is 3.5% of annual income for trade sector, 20% for notaries, 10% for rent, royalty and alienation of property and asset and 5% for other activities. ($1=414.08drams). –0--

13:51 25.04.2014

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