Bill calls for exempting imports of raw materials and equipment from VAT
YEREVAN, September 12. /ARKA/. A bill designed by Armenia’s State Revenue Committee and submitted to parliament’s consideration calls for exemption of imports of raw materials and equipment from VAT.
According to Vakhtang Mirumyan, deputy chairman of the State Revenue Committee, the passage of the bill will improve significantly the country’s investment attractiveness, and create preconditions to ensure economic growth in the long term. He said instead of VAT, the government will benefit from collection of sales taxes. The bill if passed by the parliament, would come into force on January 1, 2018.
According to another bill, submitted by the State Revenue Committee for consideration, the government will return to companies the amount of VAT collected from transactions with suppliers after six months of operation in the country. -0--