Minister: Armenia’s finance ministry not to fill government budget at account of SME

Minister: Armenia’s finance ministry not to fill government budget at account of SME

YEREVAN, May 20. /ARKA/. Armenia's finance ministry will not fill the government budget at the account of small and medium-size businesses, Gagik Khachatryan, the newly appointed finance minister, told journalists on Tuesday. 

«We don't consider small and mid-scale businesses as source of budget revenue,» he said. «We will create a free and competitive environment, where SME will work.»

Khachatryan said the system of electronic invoices is already applied in 75 to 90% of transactions, and in retail transactions cash registers of new generation are used. 

«This enables us to enhance effectiveness of our crackdown on shadow dealings, but it is very important to us to achieve success not only by taking administrative measures, but also by persuading entrepreneurs into voluntary declaration of their income,» he added. 

The minister also stressed that the government budget has grown from AMD 505 billion in 2006 to over AMD 1 trillion in 2013 and the ratio of taxes to GDP from 16.2% to 23.4%. --0--- 

19:46 20.05.2014

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