No tax holidays for businesses, minister says
03.04.2020,
15:25
Armenian Economy Minister Tigran Khachatryan told reporters on Friday that the government did not discuss the issue of granting tax holidays to economic entities because of the situation with coronavirus and the ban it introduced on several types of economic activity.
YEREVAN, April 3. /ARKA/. Armenian Economy Minister Tigran Khachatryan told reporters on Friday that the government did not discuss the issue of granting tax holidays to economic entities because of the situation with coronavirus and the ban it introduced on several types of economic activity. He added that the government neither looked into the possibility of allowing companies to delay tax payments.
Moreover, according to him, all the companies are required to submit their income tax reports for the past 2019 until April 20. He added that in 2019 there were no problems for the companies’ operation and therefore they must fulfil all their tax and other obligations.
As for the quarterly tax payments, which should also be made before April 20, according to the minister, all taxes are paid on income and profits, if companies had them in the first quarter of 2020.
He said these taxes are used to pay public sector salaries, pensions and benefits, the need for which has increased these days.
‘Those who had income must pay taxes. The government is trying to provide assistance to those who have certain needs,’ Khachatryan said.
The government of Armenia introduced a 30-day state of emergency on March 16 in a bid to contain the spread of coronavirus. Later, it imposed restrictions on free movement of people and banned certain types of economic activity until April 12 inclusive. As of April 3, some 736 confirmed cases of coronavirus were recorded in the country, 43 patients recovered and seven died. -0-
Moreover, according to him, all the companies are required to submit their income tax reports for the past 2019 until April 20. He added that in 2019 there were no problems for the companies’ operation and therefore they must fulfil all their tax and other obligations.
As for the quarterly tax payments, which should also be made before April 20, according to the minister, all taxes are paid on income and profits, if companies had them in the first quarter of 2020.
He said these taxes are used to pay public sector salaries, pensions and benefits, the need for which has increased these days.
‘Those who had income must pay taxes. The government is trying to provide assistance to those who have certain needs,’ Khachatryan said.
The government of Armenia introduced a 30-day state of emergency on March 16 in a bid to contain the spread of coronavirus. Later, it imposed restrictions on free movement of people and banned certain types of economic activity until April 12 inclusive. As of April 3, some 736 confirmed cases of coronavirus were recorded in the country, 43 patients recovered and seven died. -0-
