About 90% of cars imported to Armenia cost less than $10,000
15.03.2016,
15:27
About 90% of cars imported to Armenia cost less than $10,000, according to a parliament member Mikael Melkumyan, who spoke today at a parliamentary discussion on the amendments to the law On VAT, providing for zero VAT for vehicles imported from the Eurasian Economic Union (EEU) member countries by individuals.
YEREVAN, March 15. /ARKA/. About 90% of cars imported to Armenia cost less than $10,000, according to a parliament member Mikael Melkumyan, who spoke today at a parliamentary discussion on the amendments to the law On VAT, providing for zero VAT for vehicles imported from the Eurasian Economic Union (EEU) member countries by individuals. According to the MP, about 60% of these cars cost less than $5,000.
According to official data, the number of imported cars surged from 5,800 in 2001 to 46,000 in 2014.
In Melkumyan’s words, the number of cars imported form Russia has surged 11 times to 6,000 in 2015 following Armenia’s accession to the Eurasian Economic Union. Melkumyan said the import of cars in 2014 generated 44 billion drams of budget revenue.
"Import of cars is a major sources of revenue, a bigger source than small and medium-sized businesses, and that was why the government set no restrictions on it,’ Melkumyan said.
The Armenian government has been levying so far a 20 percent VAT on all imported cars. Melkumyan also noted that he supports the return of VAT to those individuals who have imported vehicles from the territory of the EEU after Armenia's formal membership in that bloc. ($ 1 - 489.11 drams). -0
According to official data, the number of imported cars surged from 5,800 in 2001 to 46,000 in 2014.
In Melkumyan’s words, the number of cars imported form Russia has surged 11 times to 6,000 in 2015 following Armenia’s accession to the Eurasian Economic Union. Melkumyan said the import of cars in 2014 generated 44 billion drams of budget revenue.
"Import of cars is a major sources of revenue, a bigger source than small and medium-sized businesses, and that was why the government set no restrictions on it,’ Melkumyan said.
The Armenian government has been levying so far a 20 percent VAT on all imported cars. Melkumyan also noted that he supports the return of VAT to those individuals who have imported vehicles from the territory of the EEU after Armenia's formal membership in that bloc. ($ 1 - 489.11 drams). -0
