State duty on obsidian mining to be lowered ten times
25.02.2016,
16:45
The Armenian parliament passed Wednesday in the first reading a set of amendments to the Law "On State Duty," calling for reduction of the state duty on the mining of obsidian.
YEREVAN, February 25. /ARKA/. The Armenian parliament passed Wednesday in the first reading a set of amendments to the Law "On State Duty," calling for reduction of the state duty on the mining of obsidian.
Deputy Minister of Economy Emil Tarasyan said the current fee of 10 million drams makes development of obsidian mines economically inexpedient.
He said many local companies have faced problems when trying to export souvenirs made of obsidian because of the lack of papers certifying the legal acquisition of the stone.
He said also the government wants to lower the state duty to 100,000 drams, which is expected in turn to boost development of the obsidian mines.
According to him, at the moment there are four obsidian mines in the country with deposits estimated at 3,500 tons, while the market price of one ton of the stone is 60,000 drams, which, if the mine is developed legally and after the payment of the duty increases to 68,000 drams.
He added that current exports are estimated at only 50 kg, while exports of gemstones from Armenia are estimated at 520,000 tons.
"Obsidian has been used by Armenian craftsmen to make various souvenirs which were exported only to Russia. Now problems have arisen for exports to the EU due to lack of papers certifying the origin of country," Tarasyan said.
Obsidian field are directly associated with volcanic processes. Its main deposits are in Mexico, Ecuador, Japan, Indonesia, Ethiopia, Peru, Turkey, Germany, Armenia, United States, Russia and Iceland. ($ 1 - 493.38 drams). -0-
Deputy Minister of Economy Emil Tarasyan said the current fee of 10 million drams makes development of obsidian mines economically inexpedient.
He said many local companies have faced problems when trying to export souvenirs made of obsidian because of the lack of papers certifying the legal acquisition of the stone.
He said also the government wants to lower the state duty to 100,000 drams, which is expected in turn to boost development of the obsidian mines.
According to him, at the moment there are four obsidian mines in the country with deposits estimated at 3,500 tons, while the market price of one ton of the stone is 60,000 drams, which, if the mine is developed legally and after the payment of the duty increases to 68,000 drams.
He added that current exports are estimated at only 50 kg, while exports of gemstones from Armenia are estimated at 520,000 tons.
"Obsidian has been used by Armenian craftsmen to make various souvenirs which were exported only to Russia. Now problems have arisen for exports to the EU due to lack of papers certifying the origin of country," Tarasyan said.
Obsidian field are directly associated with volcanic processes. Its main deposits are in Mexico, Ecuador, Japan, Indonesia, Ethiopia, Peru, Turkey, Germany, Armenia, United States, Russia and Iceland. ($ 1 - 493.38 drams). -0-
