Government sets annual increase in excise tax rate
25.06.2019,
09:49
A package of government-drafted amendments to the Tax Code was presented June 24 for a second and final reading to an extraordinary session of Armenian National Assembly.
YEREVAN, June 25, /ARKA/. A package of government-drafted amendments to the Tax Code was presented June 24 for a second and final reading to an extraordinary session of Armenian National Assembly.
The revised amendments call, among other things, for setting the annual increase in the fixed excise tax rate at 3%, down from the earlier proposed 4%, deputy finance minister Arman Poghosyan said.
Earlier the government opposed to an increase in VAT, arguing that in its essence VAT is a regressive tax and any percentage increase would aggravate poverty rate in the country. It said because of that the best option was a certain annual increase in excise tax rate. -0-
