Government of Armenia delayed vat payment of “Ararat” factory taking into account its investment programs of 1.59 billion drams
23.03.2012,
16:14
Food factory “Ararat” plans to expand the production by investing about 1.59 billion drams, said Armenian Economy Minister Tigran Davtyan.
YEREVAN, March 22. /ARKA/. Food factory “Ararat” plans to expand the production by investing about 1.59 billion drams, said Armenian Economy Minister Tigran Davtyan.
Government of Armenia in the meeting on Thursday adopted a decision to delay the dates of VAT payments in the frames of investment program of “Food factory Ararat” until November 1, 2014.
Davtyan said that in the result of expansion of the production in the factory 70-80 new job places will be created, and the average salary of the employees will be 110 thousand drams.
In 2011, food factory “Ararat” invested $8.5 million in the development of the company. The factory produces juices and nectars, tea and canned food, 80% of the production is planned to export to CIS countries and Europe under the brands “Ararat”, “Lina” and “Josi”.
Prime Minister of Armenia Tigran Sargsyan said that the factory “Ararat’ is a good example for the companies that want to import equipment and expand their production, and suggested such companies to submit investment programs to the government.
According to the revised law “On value added tax” in April 2009, VAT payment for the companies importing to Armenia goods, new technologies or equipment in the amount of over 300 million drams or investment package of which exceeds the mentioned amount, are delayed for three years. ($1 – 387.93 drams). -0-
