Introduction of new cash registers postponed again for 12 months
23.11.2015,
18:00
At an extraordinary session today Armenian parliament discussed a package of amendments to the tax legislation, which among other amendments, provide also for changes in the law "On the Use of Cash Registers.’
YEREVAN, November 23. /ARKA/. At an extraordinary session today Armenian parliament discussed a package of amendments to the tax legislation, which among other amendments, provide also for changes in the law "On the Use of Cash Registers.’
According to Deputy Finance Minister Vakhtang Mirumyan, the changes propose that mandatory introduction of new generation cash registers be put off for one year. Earlier they were supposed to be introduced from January 1, 2016.
He said some 32,000 small and medium-sized businesses have already replaced their cash registers with new generation machines, but another 25,000 still have to install them. According to him, this in mind, the government proposes to extend for one year the mandatory introduction of new generation cash registers.
The Armenian government has repeatedly extended the deadline for the introduction of new cash registers. Tax authorities say the installment of new cash registers make tax fraud more difficult as the new devices correctly calculate and record transactions subject to value-added tax (VAT), the single largest source of state revenue. ($1 – 481.37 drams). --0--
According to Deputy Finance Minister Vakhtang Mirumyan, the changes propose that mandatory introduction of new generation cash registers be put off for one year. Earlier they were supposed to be introduced from January 1, 2016.
He said some 32,000 small and medium-sized businesses have already replaced their cash registers with new generation machines, but another 25,000 still have to install them. According to him, this in mind, the government proposes to extend for one year the mandatory introduction of new generation cash registers.
The Armenian government has repeatedly extended the deadline for the introduction of new cash registers. Tax authorities say the installment of new cash registers make tax fraud more difficult as the new devices correctly calculate and record transactions subject to value-added tax (VAT), the single largest source of state revenue. ($1 – 481.37 drams). --0--
