Armenian tax administration needs to be seriously reformed: prime minister

|

USD

391.57

EUR

426.77

RUB

4.6962

GEL

141.11

Economy

29.09.2009, 23:48

Armenian tax administration system needs to be seriously reformed, Prime Minister Tigran Sargsyan said today.

YEREVAN, September 29, /ARKA/. Armenian tax administration system needs to be seriously reformed, Prime Minister Tigran Sargsyan said today.

Speaking a seminar on the latest World Bank ‘Doing Business 2010’ report, the minister said: “We still have problems in tax administration, particularly, paying taxes takes lot of time.’ He added that introduction of electronic payment system is expected to ease the problem.

“We have started introducing this system and expect technical assistance from the World Bank, the International Financial Corporation and USAID. We hope that this system, along with introduction of risk-based tax administration, will raise significantly Armenia’s rating in Doing Business next report,’ he said.

The premier admitted that there are serious problems in customs services as well. He said working group was formed to monitor all areas which are taken into account in making the Doing Business report.

“We have a clear schedule of measures and people responsible for improving Armenia’s standing in Doing Business. We have simplified the process of company registration, eliminated some unnecessary requirements and as a result Armenia’s rating has moved up,’ he said.

In the Doing Business 2010 Armenia was on 43-rd position among 183 countries. In establishing businesses Armenia has improved its performance and ranks 21st, in cross-border trade – 102nd place and in obtaining a construction permission – 72nd, in registering property – 5th. M.M. -0-

Armenian parliamentary committee approves double taxation agreement with Hong Kong

The Parliamentary Committee on Economic Affairs gave a positive conclusion regarding the ratification of the agreement on the elimination of double taxation of income between Armenia and Hong Kong during a meeting on Wednesday.

19.03.2025 13:00

Armenia is ready to deepen trade and economic relations with EU in all areas – Minister

Armenia is ready to continue and deepen its trade and economic relations with the EU in all possible areas, said Economy Minister Gevorg Papoyan on March 18 during a meeting with Meglena Kuneva, a lecturer at the Diplomatic Academy of the European External Action Service, former chief negotiator and EU commissioner, and former Deputy Prime Minister of Bulgaria.

19.03.2025 09:49

Cadastre Committee to create passports for about 10,000 geographical names of Armenia

The Armenian Cadastre Committee will create 'passports' for about 10,000 geographical names and update the data in 2025, the head of the Committee Suren Tovmasyan said.

18.03.2025 18:14

"A busy year awaits us": Martin Galstyan on the impact of China's economy and trade wars on Armenia

The head of the Armenian Central Bank Martin Galstyan responded to a question whether the Stimulus Package, adopted by China and, in particular, the rise in copper prices, will affect Armenia's economy.

18.03.2025 17:56

Central Bank of Armenia left refinancing rate unchanged at 6.75%

At its meeting on March 18, the Board of the Central Bank of Armenia kept the refinancing rate unchanged at 6.75%.

18.03.2025 12:18

Armenia aims to connect itself with both EEU, EU, Arab, Asian and other markets by "numerous threads" - Papoyan

Armenia seeks to connect its economy with the Eurasian Economic Union (EEU) market as well as the EU, Arab, Asian and other markets with as many threads as possible, Minister of Economy Gevorg Papoyan said.

17.03.2025 17:16

S&P expects Armenia's economic growth to halve in three years

Over the next three years, growth in Georgia and Armenia will almost halve, from 9.4% and 8.8%, respectively, in 2022-24, but will remain sustainable, according to a commentary by S&P Global Ratings analysts, as reported by FrankMedia.

14.03.2025 10:26

Dynamics of the decline in exports and imports in Armenia will last throughout the first half of the year – EDB

The decline in the value of exports and imports in Armenia in January by 49.2% year-on-year (y/y) and 33.5% y/y, respectively, was due to the fact that the positive impact of foreign trade in precious metals had been exhausted.

13.03.2025 15:00