Pawnshops and money exchange offices protest against proposed changes, calling for a dramatic rise in duties
12.03.2019,
15:56
Employees and owners of pawnshops and money exchange offices in Armenia demonstrated on Monday in front of the government building against a set of proposed amendments to the Law on State Duty, which call for a dramatic rise in duties on these two types of business activity.
YEREVAN, March 12, /ARKA/. Employees and owners of pawnshops and money exchange offices in Armenia demonstrated on Monday in front of the government building against a set of proposed amendments to the Law on State Duty, which call for a dramatic rise in duties on these two types of business activity.
According to the proposed changes, the duty on running a pawnshop is to increase from the current 100 thousand drams (about $204) to 6 million drams (about $12 thousand), and for money exchange offices -from the current 50,000 drams ($102) to 3 million drams (about $6.1 thousand ).
The protesters argued that the passage of the proposed changes by parliament would close more than half of the 140 pawnshops and 200 money exchange offices throughout the country. Besides, more than 1,300 people will lose their jobs.
They claimed that as a result the amount of taxes paid by pawnshops and money exchange offices will slash by 900 million drams (about $1.8 million).
The protesters called on the government to conduct a more in-depth study of these two activities, based on economic calculations and analysis, and to take into account the opinions of all interested parties. –0-
According to the proposed changes, the duty on running a pawnshop is to increase from the current 100 thousand drams (about $204) to 6 million drams (about $12 thousand), and for money exchange offices -from the current 50,000 drams ($102) to 3 million drams (about $6.1 thousand ).
The protesters argued that the passage of the proposed changes by parliament would close more than half of the 140 pawnshops and 200 money exchange offices throughout the country. Besides, more than 1,300 people will lose their jobs.
They claimed that as a result the amount of taxes paid by pawnshops and money exchange offices will slash by 900 million drams (about $1.8 million).
The protesters called on the government to conduct a more in-depth study of these two activities, based on economic calculations and analysis, and to take into account the opinions of all interested parties. –0-
