Armenian parliament replaces turnover tax with license fees for gold traders
17.06.2015,
14:07
Armenia’s National Assembly passed on Wednesday, in the first reading, the bill replacing turnover tax with license payments for gold market traders.
YEREVAN, June 17. /ARKA/. Armenia’s National Assembly passed on Wednesday, in the first reading, the bill replacing turnover tax with license payments for gold market traders.
The decision to introduce license fees to substitute the tax is agreed upon with most of entities in the market, minister of economy Karen Chshmarityan said during the discussion in the parliament.
The minister said the premier had been to one of the gold markets in the city and instructed to look into the matter and provide recommendations, which gave the basis for the bill.
License payments will depend on the size of the sales point and the turnover that should not exceed 115 million drams, Chshmarityan said.
Earlier the deputy minister of economy Emil Tarasyan said that if the turnover increased, the economic entity would be taxed as other companies.
License payments within Yerevan will be 35,000 drams per sales point covering area of 0.7 linear meters (or 0.5 square meters). An extra 5,000 drams will be charged for each additional 0.1 linear meter in excess.
The fee will be 25,000 drams per 0.7-meter trade point in the country’s provincial centers and 15,000 drams in other locations. No license payment will be required in border areas. ($1 – 475.03 drams). –0--
The decision to introduce license fees to substitute the tax is agreed upon with most of entities in the market, minister of economy Karen Chshmarityan said during the discussion in the parliament.
The minister said the premier had been to one of the gold markets in the city and instructed to look into the matter and provide recommendations, which gave the basis for the bill.
License payments will depend on the size of the sales point and the turnover that should not exceed 115 million drams, Chshmarityan said.
Earlier the deputy minister of economy Emil Tarasyan said that if the turnover increased, the economic entity would be taxed as other companies.
License payments within Yerevan will be 35,000 drams per sales point covering area of 0.7 linear meters (or 0.5 square meters). An extra 5,000 drams will be charged for each additional 0.1 linear meter in excess.
The fee will be 25,000 drams per 0.7-meter trade point in the country’s provincial centers and 15,000 drams in other locations. No license payment will be required in border areas. ($1 – 475.03 drams). –0--
