Government awards VAT payment deferments to two companies
28.04.2011,
21:59
Armenia’s economy minister Tigran Davtian said today the government granted a three-year VAT payment deferment the Nubarashen poultry farm because the company will import 1.1 million euro worth chicken meat processing line.
YEREVAN, April 28, /ARKA/. Armenia’s economy minister Tigran Davtian said today the government granted a three-year VAT payment deferment the Nubarashen poultry farm because the company will import 1.1 million euro worth chicken meat processing line. The deferment is granted to companies which import 300 million Drams or more worth equipment or technology.
‘Introduction of new technology will enable the company to substantially improve chicken meat processing process,’ Tigran Davtian said, adding that the 1.1 million investment will create also up to 100 new jobs.
The government awarded also a similar deferment to Armenian-Dutch joint venture Amster Flowers. Tigran Davtian said the company plans to build a large greenhouse and invest 1.5 million euros in import of modern equipment and other infrastructure components. He said the company will create 60 new jobs over the next three years.
Amster Flowers was set up in 2006 having invested so far 500,000 euros in buying new equipment. The company is engaged in cultivating young trees and landscaping. It offers 100 types of roses, 200 types of exotic plants, as well as flower seeds, fertilizers and pesticides.
Over the last 12 months the government granted VAT payment deferment to 11 companies -NatFood, Ucom, Sham Business, Arax poultry plant, Estate Management and Administration Company, Golden Grape Armas, Biga, Saranist, Spaika, Karolina, Jermuk International, which have planned to invest a total of 29 billion Drams worth modern equipment and technology and create about 100 new jobs.
The law allowing the government to award VAT payment deferments was passed in late 2009. ($1 – 372.35 Drams). -0-
‘Introduction of new technology will enable the company to substantially improve chicken meat processing process,’ Tigran Davtian said, adding that the 1.1 million investment will create also up to 100 new jobs.
The government awarded also a similar deferment to Armenian-Dutch joint venture Amster Flowers. Tigran Davtian said the company plans to build a large greenhouse and invest 1.5 million euros in import of modern equipment and other infrastructure components. He said the company will create 60 new jobs over the next three years.
Amster Flowers was set up in 2006 having invested so far 500,000 euros in buying new equipment. The company is engaged in cultivating young trees and landscaping. It offers 100 types of roses, 200 types of exotic plants, as well as flower seeds, fertilizers and pesticides.
Over the last 12 months the government granted VAT payment deferment to 11 companies -NatFood, Ucom, Sham Business, Arax poultry plant, Estate Management and Administration Company, Golden Grape Armas, Biga, Saranist, Spaika, Karolina, Jermuk International, which have planned to invest a total of 29 billion Drams worth modern equipment and technology and create about 100 new jobs.
The law allowing the government to award VAT payment deferments was passed in late 2009. ($1 – 372.35 Drams). -0-
